Avis Budget Group appoints Joe Ferraro CEO
Interim CEO Joe Ferraro has been appointed to the position of Chief Executive Officer at Avis Budget Group, effective immediately. Bernardo Hees, who has been serving as Independent Chairman of the Board, has been named Executive Chairman.
Avis Budget Group is a global provider of mobility solutions, best known for its Avis and Budget car rental brands, which have more than 11,000 locations in 180 countries, and through its car sharing brand Zipcar.
Mr Ferraro assumed the role of interim CEO of Avis Budget Group at the start of 2020. A long-time Avis Budget Group executive, Mr Ferraro 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.
“I’m honored to serve as the CEO of Avis Budget Group, a company where I have spent most of my career, and I deeply appreciate the trust the Board and my colleagues have placed in me,” said Mr. Ferraro. “Over the past few months, our ability to act quickly to reposition the business for success is a testament to the outstanding work and dedication of all our employees. I am confident we have the team and tools to provide our customers with innovative, safe and quality service as the travel industry begins to reopen.”
Image source: Avis Budget Group