Avis Budget CEO Joe Ferraro to Step Down, Brian Choi Named Successor

Dow Jones

02-12

By Sabela Ojea

Avis Budget's Chief Executive Officer Joe Ferraro is stepping down and will be succeeded by Brian Choi, its chief transformation officer.

The Parsippany, N.J.-based car-rental company on Tuesday said that Ferraro will leave his position on June 30 to take on a position as adviser to the board. Choi will succeed him as CEO on July 1.

The company also named board chairman Jagdeep Pahwa as its executive chairman.

Ferraro has been as Avis Budget's CEO since June 2020 after serving as interim president and CEO for six months. Prior to that, he was president of the Americas division.

Avis Budget's CEO change comes as the company posts a wider loss and slightly lower revenue for the fourth quarter.

Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix

(END) Dow Jones Newswires

February 11, 2025 16:21 ET (21:21 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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Prior to that, he was president of the Americas division. \n</p>\n<p>\n  Avis Budget's CEO change comes as the company posts a wider loss and slightly lower revenue for the fourth quarter. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  February 11, 2025 16:21 ET (21:21 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Avis Budget CEO Joe Ferraro to Step Down, Brian Choi Named Successor</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAvis Budget CEO Joe Ferraro to Step Down, Brian Choi Named Successor\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2025-02-12 05:21</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<pre>\n \n</pre>\n<p>\n  By Sabela Ojea \n</p>\n<pre>\n \n</pre>\n<p>\n  Avis Budget's Chief Executive Officer Joe Ferraro is stepping down and will be succeeded by Brian Choi, its chief transformation officer. \n</p>\n<p>\n  The Parsippany, N.J.-based car-rental company on Tuesday said that Ferraro will leave his position on June 30 to take on a position as adviser to the board. Choi will succeed him as CEO on July 1. \n</p>\n<p>\n  The company also named board chairman Jagdeep Pahwa as its executive chairman. \n</p>\n<p>\n  Ferraro has been as Avis Budget's CEO since June 2020 after serving as interim president and CEO for six months. Prior to that, he was president of the Americas division. \n</p>\n<p>\n  Avis Budget's CEO change comes as the company posts a wider loss and slightly lower revenue for the fourth quarter. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  February 11, 2025 16:21 ET (21:21 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4230","symbol_name":"旅客陆运","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2510350563","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2510350563","pubTimestamp":1739308860,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Avis Budget's Chief Executive Officer Joe Ferraro is stepping down and will be succeeded by Brian Choi, its chief transformation officer.The Parsippany, N.J.-based car-rental company on Tuesday said that Ferraro will leave his position on June 30 to take on a position as adviser to the board. Choi will succeed him as CEO on July 1.The company also named board chairman Jagdeep Pahwa as its executive chairman.Ferraro has been as Avis Budget's CEO since June 2020 after serving as interim president and CEO for six months. Prior to that, he was president of the Americas division.Avis Budget's CEO change comes as the company posts a wider loss and slightly lower revenue for the fourth quarter.","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4230":"旅客陆运","CAR":"安飞士","BK4022":"陆运"},"translate_title":"Avis Budget首席执行官Joe Ferraro辞职，Brian Choi被任命为继任者","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CAR":1},"content_text":"By Sabela Ojea \n\n\n \n\n\n  Avis Budget's Chief Executive Officer Joe Ferraro is stepping down and will be succeeded by Brian Choi, its chief transformation officer. \n\n\n  The Parsippany, N.J.-based car-rental company on Tuesday said that Ferraro will leave his position on June 30 to take on a position as adviser to the board. Choi will succeed him as CEO on July 1. \n\n\n  The company also named board chairman Jagdeep Pahwa as its executive chairman. \n\n\n  Ferraro has been as Avis Budget's CEO since June 2020 after serving as interim president and CEO for six months. Prior to that, he was president of the Americas division. \n\n\n  Avis Budget's CEO change comes as the company posts a wider loss and slightly lower revenue for the fourth quarter. \n\n\n \n\n\n  Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  February 11, 2025 16:21 ET (21:21 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"executive","news_rank":0,"symbols":[],"gpt_button":0,"code":"91000000","status":"200"}}}