Avis Budget Group Appoints Joe Ferraro as Chief Executive Officer
June 15, 2020 at 08:00 am EDT
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Avis Budget Group, Inc. announced that its Board of Directors has appointed Joe Ferraro, who has been serving as interim Chief Executive Officer, as CEO, effective immediately. The Company also announced that Bernardo Hees, who has been serving as Independent Chairman of the Board, has been named Executive Chairman. Mr. Hees will partner closely with Mr. Ferraro and the rest of the management team in the areas of strategy, finance and digital mobility initiatives to help drive the performance of the Company. Joe Ferraro assumed the role of interim Chief Executive Officer of Avis Budget Group at the start of 2020. Mr. Ferraro, a long-time Avis Budget executive, most recently spent five years as President of the Americas division, where he was responsible for the Company’s Avis, Budget, Payless and Zipcar brands in North and South America, including Latin America and the Caribbean.
Avis Budget Group, Inc. is a provider of mobility solutions through its three brands, Avis, Budget and Zipcar, as well as several other brands. Its brands offer a range of options, from car and truck rental to car sharing. Its segments include Americas and International. The Americas segment consists primarily of vehicle rental operations in North America, South America, Central America and the Caribbean, and operates a car sharing business in these markets. The International segment consists of vehicle rental operations in Europe, the Middle East, Africa, Asia and Australasia, and operates a car sharing business in these markets. The Avis brand provides vehicle rental and other mobility solutions at price points generally above non-branded and value-branded vehicle rental companies and serves the premium commercial and leisure segments of the travel industry. Its other brands include Payless, Maggiore and Morini Rent, FranceCars, Apex, Turiscar and ACL Hire and McNicoll Hire.
AVIS BUDGET GROUP, INC. 
