Joe Ferraro — Former CEO: Joseph A. Ferraro served as President and CEO of Avis Budget Group from June 2020 to June 30, 2025. After a remarkable 45-year career with the company, Ferraro transitioned to a Board Advisor role. The section on Ferraro’s tenure and background is included below.
Avis Budget Group, Inc. (NASDAQ: CAR), one of the world’s largest vehicle rental companies, is now led by CEO Brian Choi. Appointed President and Chief Executive Officer effective July 1, 2025, Choi succeeded long-time executive Joe Ferraro. A Harvard-educated finance professional, Choi previously served as the company’s Chief Financial Officer (2020–2023) and Chief Transformation Officer (2024–2025), bringing deep financial acumen and operational expertise to the top role. As CEO, he oversees the Avis, Budget, and Zipcar brands across approximately 180 countries, managing a fleet of over 600,000 vehicles and roughly 28,000 employees worldwide.
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Brian Choi – Quick Facts
Avis Budget Group Competitors
Avis Budget Group operates in the highly competitive global vehicle rental industry. The key competitors of Avis Budget Group include:
- Enterprise Holdings, Inc. – Largest car rental company in the world (Enterprise, National, Alamo)
- The Hertz Corporation – Major global competitor (Hertz, Dollar, Thrifty)
- Europcar Mobility Group – Leading European car rental brand
- Sixt SE – Fast-growing German car rental and mobility provider
- Turo – Peer-to-peer car-sharing platform
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Early Life & Education
Brian J. Choi earned a Bachelor of Arts degree in Economics from Harvard University in Cambridge, Massachusetts. His Ivy League education laid the foundation for a career in high-level finance and corporate strategy. Choi has kept details about his early life and upbringing largely private.
Career
Brian Choi built his career through progressively senior roles in finance and corporate management before rising to the top position at one of the world’s largest vehicle rental companies.
Brian Choi Career Timeline
Choi began his career as an analyst in the Leveraged Finance Group at Lehman Brothers, one of Wall Street’s most prominent investment banks. He then joined SRS Investment Management, LLC, a hedge fund, where he served as a partner from 2008 to 2020. During his time at SRS, Choi gained extensive experience in investment analysis and corporate governance across multiple industries.
In 2016, Choi joined the Avis Budget Group Board of Directors, where he played an active role in shaping the company’s strategic direction. He transitioned from the board to an executive role in August 2020, becoming Executive Vice President and Chief Financial Officer. As CFO, he oversaw the company’s financial operations during a turbulent period that included the COVID-19 pandemic, the used car market surge, and the company’s brief entry into meme-stock territory in 2021.
In January 2024, Choi was appointed Chief Transformation Officer, tasked with driving strategic initiatives to modernize the business. His success in that role led to his appointment as President and CEO effective July 1, 2025, succeeding Joe Ferraro.
CEO Role – Leadership & Achievements
Since assuming the CEO role in July 2025, Brian Choi has focused on transforming Avis Budget Group’s operations and positioning the company for long-term sustainable growth. His key priorities include:
- Fleet Discipline: Tightening fleet management and reducing exposure to volatile vehicle depreciation, including addressing a $518 million EV impairment charge taken in 2025
- Balance Sheet Strengthening: Improving the company’s financial position with approximately $818 million in liquidity and $2.1 billion in additional fleet funding capacity
- Customer Experience: Raising the bar on service quality across the Avis and Budget brands to drive customer retention and revenue per day
- Operational Efficiency: Achieving a 19% year-over-year increase in Adjusted EBITDA to $748 million in FY2025
- Technology Investment: Continuing to invest in digital capabilities and the connected fleet platform
Personal Life
Brian Choi, age approximately 42, maintains a private personal life. Based in the New York metropolitan area, he keeps details about his family largely out of the public eye. Choi is known for his analytical approach to business and his quiet, focused leadership style. Despite being one of the youngest CEOs of a Fortune 500-level company, he brings deep institutional knowledge of Avis Budget Group from nearly a decade of involvement as a board member and executive.
Brian Choi Net Worth 2026 – Avis CEO Salary
As of 2026, Brian Choi’s net worth is estimated at approximately $14 million USD, based on his disclosed Avis Budget Group stock holdings, SEC insider filings, and prior compensation. His CEO compensation package was established in an SEC Form 8-K filing dated February 2025.
Avis Budget Group CEO Compensation
Joe Ferraro Compensation (Former CEO)
Avis Budget Group Net Worth 2026 – Is Avis Profitable?
Avis Budget Group is a publicly traded company on NASDAQ under the ticker CAR. While the company reported a net loss of $995 million in fiscal year 2025 — largely driven by a $518 million electric vehicle fleet impairment charge — Adjusted EBITDA improved to $748 million, reflecting stronger underlying operations.
Avis Budget Group Financial Summary (FY2025)
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Avis CEO Email Address | Brian Choi Contact
Below are the official contact details and social media profiles for Avis Budget Group CEO Brian Choi:
Joe Ferraro – Former CEO (2020–2025)
Joseph (Joe) A. Ferraro served as President and CEO of Avis Budget Group from June 2020 to June 30, 2025, capping a remarkable 45-year career with the company. He rose through the ranks from field operations to President of the Americas before being named Interim CEO in late 2019 and CEO in 2020.
Ferraro steered Avis through the COVID-19 pandemic and presided over one of the company’s most profitable periods in 2021–2022, when used car values surged and travel demand rebounded sharply. He holds a Bachelor’s degree from Syracuse University and is approximately 69 years old. Ferraro’s estimated net worth is $20–30 million USD. After stepping down as CEO, he transitioned to a Board Advisor role effective July 1, 2025.
About Avis Budget Group
Avis Budget Group, Inc. is an American vehicle rental company headquartered in Parsippany, New Jersey. Founded in 1946, the company operates several well-known brands:
Avis Budget Group trades on the NASDAQ stock exchange under the ticker symbol CAR. The company operates in approximately 180 countries with a fleet of over 600,000 vehicles and about 28,000 employees worldwide. As of March 2026, the company has a market capitalization of approximately $3.4 billion.
Frequently Asked Questions (FAQ)
Who is the current CEO of Avis Budget Group?
The current CEO of Avis Budget Group is Brian Choi, who was appointed President and Chief Executive Officer effective July 1, 2025. He succeeded Joe Ferraro, who transitioned to a Board Advisor role after a 45-year career with the company. Choi previously served as the company’s CFO and Chief Transformation Officer.
What is Brian Choi’s net worth in 2026?
As of 2026, Brian Choi’s net worth is estimated at approximately $14 million USD, based on his disclosed Avis Budget Group stock holdings and SEC insider filings.
What is the Avis Budget Group CEO’s salary?
Brian Choi’s CEO compensation includes a $1 million base salary, a target annual incentive of $1.5 million (150% of base), and a long-term incentive award of $3.75 million. His estimated total CEO compensation package is approximately $6.25 million or more per year.
What is the Avis Budget Group CEO’s email address?
Avis Budget Group CEO Brian Choi’s email address is [email protected]. He can also be reached via his LinkedIn profile. For corporate inquiries, call (973) 496-4700.
What did Brian Choi do before becoming Avis CEO?
Before becoming CEO, Brian Choi served as Avis Budget Group’s Chief Transformation Officer (2024–2025) and Chief Financial Officer (2020–2023). He also served on the company’s Board of Directors from 2016 to 2020. Earlier in his career, he was a partner at SRS Investment Management and an analyst at Lehman Brothers. He holds a B.A. in Economics from Harvard University.
Is Avis Budget Group a profitable company?
Avis Budget Group reported a net loss of $995 million in fiscal year 2025, primarily due to a $518 million EV fleet impairment charge. However, the company’s Adjusted EBITDA improved 19% to $748 million, indicating improving underlying operations. Revenue was $11.7 billion for the full year.
Article last updated:February 2026March 4, 2026
Disclaimer: All information presented in this article has been compiled from publicly available sources, including SEC filings, official company press releases, and reputable news outlets. This content is provided for informational purposes only and does not constitute financial or investment advice.