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Avis Budget Group Announces CEO Transition to Brian Choi on July 1, 2025.
ByAinvest
Monday, Jun 2, 2025 12:52 pm ET1min read
Avis Budget Group announces CEO Joseph Ferraro will transition to Board Advisor on June 30, 2025, and Brian Choi, Chief Transformation Officer, will take over as CEO on July 1, 2025.
Avis Budget Group, Inc. (NASDAQ: CAR) has announced significant changes in its executive leadership and disclosed substantial financial losses. On February 11, 2025, the company reported a loss of $1.96 billion for the fourth quarter and full year 2024, attributing the results to a change in strategy that significantly accelerated its fleet rotations, reducing the useful life of its vehicles in the Americas segment [1].In response to these developments, Avis Budget Group has announced that its CEO, Joseph A. Ferraro, will transition to the role of Board Advisor effective June 30, 2025. Brian Choi, the company's Chief Transformation Officer, will take over as CEO on July 1, 2025 [1].
The announcement of the CEO transition comes as the company faces potential legal action. Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Avis Budget Group and has encouraged investors who suffered losses to contact the firm directly to discuss their legal rights [1]. Similarly, the Schall Law Firm has reminded investors of a class action lawsuit against Avis Budget Group for violations of federal securities laws [2].
Investors who purchased Avis Budget Group's securities between February 16, 2024, and February 10, 2025, are encouraged to contact Faruqi & Faruqi, LLP or the Schall Law Firm before the June 24, 2025, deadline to seek the role of lead plaintiff in a potential securities class action [1][2].
References:
[1] https://www.globenewswire.com/news-release/2025/06/02/3092159/683/en/SHAREHOLDER-NOTICE-Faruqi-Faruqi-LLP-Investigates-Claims-on-Behalf-of-Investors-of-Avis-Budget-Group.html
[2] https://www.morningstar.com/news/pr-newswire/20250602la00602/car-investors-have-opportunity-to-lead-avis-budget-group-inc-securities-fraud-lawsuit-with-the-schall-law-firm
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