Avis Budget Appoints Interim CEO

By Jesse Sokolow on 30 December 2019
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Avis Budget Group announced the appointment of Joe Ferraro to the position of interim chief executive officer.

Mr. Ferraro is currently president of the Americas region at the company. The appointment is effective January 1, 2020.  The previous CEO, Larry De Shon, became CEO in January 2016, after a ten-year stint at the company.

“During his 40 years at Avis Budget Group, Joe Ferraro has proven that he is a strong and dynamic leader,“ said Leonard Coleman, chairman of the company’s board of directors. “We are fortunate to have a deep bench of talent at Avis Budget Group, and we are confident that Joe and the rest of our management team will continue to provide steady leadership as we continue our search for a permanent CEO.”

The company also announced the appointment of Izzy Martins, the company’s CFO, to the position of interim president, a position also vacated by Mr. De Shon.

Avis Budget’s CEO search committee, under the leadership of Lynn Kromings, a former Revlon chief legal officer who serves as chairman of the board’s corporate governance committee.

(Photo: Accura Media Group)

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