Joseph A. Ferraro has been at the helm of Avis Budget Group, Inc. since June 12, 2020, after initially taking the role as Interim CEO in January of that year. With over 40 years of experience at the company, he...

Joseph A. Ferraro has been at the helm of Avis Budget Group, Inc. since June 12, 2020, after initially taking the role as Interim CEO in January of that year. With over 40 years of experience at the company, he joined Avis in 1979 and worked his way up through various positions in North America, notably serving as President of Americas from 2015. Under his leadership, Avis has focused on improving operational efficiency and aligning executive pay with company performance, evidenced by performance metrics like Adjusted EBITDA that directly impact his compensation. In 2023, his total compensation was around $10.3 million, a significant jump from previous years, showing that the company is prioritizing performance-based rewards. Interestingly, his long history with the company means he has witnessed and responded to many industry changes, which likely informs his strategic decisions today. Ferraro's career reflects a deep commitment to the company and the car rental industry, shaping Avis to adapt to new challenges and opportunities.

Quick Links

1. Rivals

2. Holdings

3. Insider Trading

4. Compensation History

5. Other Avis Budget Group CEOs

A

Joseph A. Ferraro

CEO of Avis Budget Group

Education

Bachelor's degree from St. John's University

Field of Expertise

Business & Management

Sector of Economy

Industrials

Born

January 1, 1957 - 68 years ago

CEO of Avis Budget Group for

5 years 4 months (Jan 2020 - Present)

Previous Experience

President, Americas at Avis Budget Group

Rivals

Competitors/colleagues of Joseph A. Ferraro

G

Eugene A. Hall

CEO of Gartner

2021 Compensation

Stock

$3.00M

Salary

$1.20M

Bonus

$500.00K

Other

$200.00K

Total Holdings

$554.88M

E

Mark W. Begor

CEO of Equifax

2023 Compensation

Stock

$0.00

Salary

$1.50M

Bonus

$944.11K

Other

$505.65K

Total Holdings

$71.94M

I

John Wasson

CEO of ICF International

2023 Compensation

Stock

$0.00

Salary

$1.01M

Bonus

$1.21M

Other

$15.58K

Total Holdings

$10.16M

T

Philippe Krakowsky

CEO of The Interpublic Group of Companies

2023 Compensation

Stock

$0.00

Salary

$1.50M

Bonus

$1.68M

Other

$184.01K

Total Holdings

$14.14M

B

Horacio Rozanski

CEO of Booz Allen Hamilton

2023 Compensation

Stock

$1.50M

Salary

$1.20M

Bonus

$500.00K

Other

$200.00K

Total Holdings

$70.96M

A

Kevin P. Clark

CEO of Aptiv

2019 Compensation

Stock

$19.78M

Salary

$1.42M

Bonus

$0.00

Other

$268.27K

Total Holdings

$70.14M

Holdings

See how much did Joseph A. Ferraro make over time.

Joseph A. Ferraro's holdings in Avis Budget Group have seen considerable changes over the years. As of the end of 2022, his vested stock value was approximately $17.32 million, heavily influenced by his longstanding connection with the company since 1979....

Joseph A. Ferraro's holdings in Avis Budget Group have seen considerable changes over the years. As of the end of 2022, his vested stock value was approximately $17.32 million, heavily influenced by his longstanding connection with the company since 1979. His wealth peaked during times of stock performance, particularly in 2021, with significant vested stock awards adding to his financial portfolio. In terms of fluctuations, Ferraro’s stock rewards include a mix of Performance-Based Stock Units (PSUs) and Restricted Stock Units (RSUs), the latter being a major component of his overall remuneration. Given his tenure and the size of his holdings, these stock awards indicate his strong alignment with shareholder interests and the company's long-term success. About 79,445 shares vested in 2022 alone, illustrating his deep investment in the company's future.

Total Stock Sold

$11.75M

CAR

$11.75M

53,690 CAR shares

What if they kept their stock?

If Joseph A. Ferraro didn't sell their stock, today they would have:
Extra CAR53,690 shares worth $999.17K.
This is -91.5% and $10.75M less than what they got when they sold the stock.

Insider Trading

See recent insider trades of Joseph A. Ferraro.

CAR

$3.60M

CAR at $195.27/share

Dec 15, 2023

Sale

CAR

$2.95M

CAR at $184.27/share

Dec 15, 2022

Sale

CAR

$5.00M

CAR at $260.00/share

Nov 11, 2021

Sale

Compensation History

See how much did Joseph A. Ferraro make over time.

In 2023, Joseph A. Ferraro's total compensation reached approximately $10.3 million, a notable increase compared to previous years. His salary was $1.25 million, with the rest primarily coming from vested stock worth about $26.8 million, which highlights the company's performance-based pay structure. Interestingly, he did not receive bonuses in 2022 and 2023, which shows a clear link between his rewards and the company’s operational success. Overall, his compensation package is designed to reflect his impact on the business and align his interests with those of the shareholders. This strategy underscores Avis Budget Group’s commitment to performance-related compensation, which aims to attract and retain top talent while ensuring they work towards the company's goals.

Year

2023

Total Compensation

$29.59M

Salary

$1.25M

Board Justification

The compensation philosophy emphasizes pay-for-performance, aligning executive compensation with company performance and shareholder interests, while ensuring competitive compensation to attract and retain talent.

Bonus

$0.00

Board Justification

No bonus was awarded for 2023 as per the summary compensation table.

Other

$1.51M

Board Justification

Other compensation includes contributions to deferred compensation plans, perquisites, and other benefits provided to the CEO.

Restricted Stock

$26.83M(128.47K RSU)

Board Justification

The stock that vested in 2023 includes Performance-Based Stock Units (PSUs) and Restricted Stock Units (RSUs) that were granted in prior years and vested based on performance metrics achieved.

Performance Metrics

The performance metrics for 2023 included Adjusted EBITDA and individual performance metrics based on financial and operational goals.

Other Avis Budget Group CEOs

Here are other CEOs of Avis Budget Group

Larry D. De Shon

Ex-CEO of Avis Budget Group

January 2015 - December 2019