Larry D. De Shon served as the CEO and President of Avis Budget Group from 2015 to 2019. During his time, he led the company through various performance challenges, focusing on aligning executive pay with the company's financial goals. His total compensation peaked at around $16.7 million in 2019, largely due to a significant cash severance and a mix of salary, stock options, and other benefits. Before his departure in 2019, De Shon was with Avis for 13 years, demonstrating a strong commitment to the brand. Interestingly, during his final year at Avis, performance metrics were not met, which affected his bonuses. Following his exit, he entered a consulting arrangement with a substantial payout. His leadership journey reflects both the challenges of corporate performance and the complexities of executive compensation. De Shon remains a noteworthy figure in the car rental industry, known for navigating difficult times, including the impact of market changes on Avis's operational strategy.

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Larry D. De Shon

Ex-CEO of Avis Budget Group

Education

Bachelor's degree in Business Administration from the University of Michigan

Field of Expertise

Business & Management

Sector of Economy

Industrials

Born

January 1, 1959 - 66 years ago

CEO of Avis Budget Group for

4 years 11 months (Jan 2015 - Dec 2019)

Previous Experience

Various roles at United Airlines

Rivals

Competitors/colleagues of Larry D. De Shon

Eugene A. Hall

CEO of Gartner

2021 Compensation

Stock

$3.00M

Salary

$1.20M

Bonus

$500.00K

Other

$200.00K

Total Holdings

$554.88M

Mark W. Begor

CEO of Equifax

2023 Compensation

Stock

$0.00

Salary

$1.50M

Bonus

$944.11K

Other

$505.65K

Total Holdings

$71.94M

John Wasson

CEO of ICF International

2023 Compensation

Stock

$0.00

Salary

$1.01M

Bonus

$1.21M

Other

$15.58K

Total Holdings

$10.16M

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

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

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 Larry D. De Shon make over time.

Larry D. De Shon's financial stakes at Avis Budget Group fluctuated significantly over his tenure. In 2015, he held a notable volume of restricted stock units (RSUs) as part of his compensation, which became a significant portion of his wealth as they vested. By 2019, his vested stock was valued at around $1.6 million, but not all units were fully vested due to performance targets not being met. In the early years of his leadership, especially in 2016, his total compensation was about $6.5 million, reflecting the company's focus on long-term performance. However, as he exited in 2019, De Shon received a severance package that included $7.5 million plus additional benefits, showcasing the high stakes and potential financial rewards of leading a major company like Avis, especially during turbulent market periods.

Total Stock Sold

$9.85M

CAR

$9.85M

287,875 CAR shares

What if they kept their stock?

If Larry D. De Shon didn't sell their stock, today they would have:
Extra CAR287,875 shares worth $8.20M.
This is -16.69% and $1.64M less than what they got when they sold the stock.

Insider Trading

See recent insider trades of Larry D. De Shon.

HIG

$190.00K

HIG at $110.09/share

Jul 29, 2024

Received

HIG

$180.00K

HIG at $71.88/share

Jul 31, 2023

Received

HIG

$180.00K

HIG at $63.43/share

Aug 1, 2022

Received

HIG

$180.00K

HIG at $63.62/share

Jul 30, 2021

Received

HIG

$180.00K

HIG at $42.00/share

Aug 3, 2020

Received

HIG

$40.00K

HIG at $55.27/share

Feb 25, 2020

Received

CAR

$825.00K

CAR at $33.00/share

Dec 12, 2019

Sale

CAR

$1.05M

CAR at $42.00/share

Oct 30, 2017

Sale

CAR

$1.54M

CAR at $61.66/share

Mar 3, 2015

Sale

CAR

$1.49M

CAR at $65.00/share

Aug 13, 2014

Sale

Compensation History

See how much did Larry D. De Shon make over time.

In 2019, Larry D. De Shon's compensation as CEO of Avis Budget Group reached $16.7 million, significantly boosted by cash severance payments of $7.5 million. He received a base salary of $1.2 million with no bonus for the year as the performance targets were not met. His compensation reflected a pay-for-performance philosophy, linking a good chunk of his earnings to company performance metrics like Adjusted EBITDA. In previous years, such as 2016 and 2018, his total compensation varied, highlighting the ups and downs of linking pay to performance. His overall packages included other benefits that showcased the typical high stakes of executive roles in large corporations. This strategy of aligning pay with performance was intended to motivate leaders to drive the company toward better results.

Year

2019

Total Compensation

$10.53M

Salary

$1.20M

Board Justification

The compensation philosophy emphasizes pay-for-performance alignment, with a significant portion of the CEO's pay being performance-based, reflecting the company's financial performance and individual contributions.

Bonus

$0.00

Board Justification

No bonus was awarded for 2019 as the performance-based metrics were not met.

Other

$7.73M

Board Justification

This includes cash severance payments of $6,000,000 and an additional $1,500,000, as well as other benefits and perquisites provided under the separation agreement.

Restricted Stock

$1.60M(47.96K RSU)

Board Justification

The stock awards that vested in 2019 were restricted stock units (RSUs) that were granted in prior years and were scheduled to vest based on continued service.

Performance Metrics

The performance metrics for 2019 included Adjusted EBITDA and Adjusted Free Cash Flow, which were key measures of operational and financial performance.

Other Avis Budget Group CEOs

Here are other CEOs of Avis Budget Group

Joseph A. Ferraro

CEO of Avis Budget Group

January 2020 - Present