8-K filed November 1, 2023, 7:59 PM ET ticker CAR CIK 0000723612

leadership confidence high sentiment neutral materiality 0.60

Avis Budget Group realigns management: Martins to CFO, Choi to Transformation Officer, Pahwa to Chair

AVIS BUDGET GROUP, INC.

Izzy Martins promoted to EVP & CFO effective Jan 1, 2024; base salary $700,000, target incentive 125%, LTI target $1.725M.
Brian Choi transitions from CFO to newly created EVP & Chief Transformation Officer, focusing on data, analytics, and technology; base $675,000, LTI target $2M.
Jagdeep Pahwa to become Chairman after 2024 annual meeting, replacing Bernardo Hees who remains a board member.
Hees steps down as Executive Chairman but continues as director; Pahwa is Vice Chairman and president of SRS Investment Management.

item 5.02 item 7.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Role change

Bernardo Hees

Executive Chairman

CAR · AVIS BUDGET GROUP, INC.

Successor: Jagdeep Pahwa
Filed: November 1, 2023, 7:59 PM ET

Bernardo Hees will resign as Executive Chairman of the Board but continue to serve as a member of the Board

Role change

Brian J. Choi

EVP & Chief Transformation Officer

CAR · AVIS BUDGET GROUP, INC.

Effective: 2024-01-01
Successor: Izzy Martins
Filed: November 1, 2023, 7:59 PM ET

Effective January 1, 2024, Mr. Choi will transition from the role of EVP & Chief Financial Officer and become the Company’s first EVP & Chief Transformation Officer.

Appointed

Izzy Martins

EVP & Chief Financial Officer

CAR · AVIS BUDGET GROUP, INC.

Effective: 2024-01-01
Filed: November 1, 2023, 7:59 PM ET

Izzy Martins, currently serving as EVP Americas of the Company, will assume the role of EVP & Chief Financial Officer of the Company, effective January 1, 2024.

Appointed

Jagdeep Pahwa

Chairman of the Board

CAR · AVIS BUDGET GROUP, INC.

Filed: November 1, 2023, 7:59 PM ET

Jagdeep Pahwa, currently Vice Chairman of the Board, will assume the role of Chairman of the Board

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Bernardo Hees departed as Executive Chairman at AVIS BUDGET GROUP, INC..

Action: resign
Role: Executive Chairman

Exact text from the filing

Bernardo Hees will resign as Executive Chairman of the Board but continue to serve as a member of the Board

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Brian J. Choi changed role as EVP & Chief Transformation Officer at AVIS BUDGET GROUP, INC..

Action: transitioned
Role: EVP & Chief Transformation Officer

Exact text from the filing

Effective January 1, 2024, Mr. Choi will transition from the role of EVP & Chief Financial Officer and become the Company’s first EVP & Chief Transformation Officer.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Izzy Martins was appointed as EVP & Chief Financial Officer at AVIS BUDGET GROUP, INC..

Action: appointed
Role: EVP & Chief Financial Officer

Exact text from the filing

Izzy Martins, currently serving as EVP Americas of the Company, will assume the role of EVP & Chief Financial Officer of the Company, effective January 1, 2024.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Jagdeep Pahwa was appointed as Chairman of the Board at AVIS BUDGET GROUP, INC..

Action: assume
Role: Chairman of the Board

Exact text from the filing

Jagdeep Pahwa, currently Vice Chairman of the Board, will assume the role of Chairman of the Board

View on SEC.gov

AVIS BUDGET GROUP, INC. filing history →

Source: SEC EDGAR

accession 0000950142-23-002708

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