Avis General Counsel Michael Tucker to Depart
Avis Budget Group Inc.’s general counsel and executive vice president, Michael Tucker, is leaving the company after 10 years in the role. Tucker, who joined the Parsippany, NJ-based rental-car company in April 2010, is set to depart the company on Friday. He will be succeeded by Jean Sera, Avis’ corporate secretary, according to a March 20 filing with the U.S. Securities and Exchange Commission.
The departure comes as Avis grapples with the effects of the coronavirus pandemic on its business. The company said in a press release this week that it is beginning to see a negative impact on reservations and revenue as broad travel restrictions have been implemented. A significant drop in rental car reservations of about 60% is projected for April with potential further declines as the virus spreads, according to the company.
Prior to joining Avis, Tucker was in private practice as the managing partner of Tucker Associates and of counsel at Lowe & Savage. He was previously the division general counsel of Tyco International and has served in various senior legal roles with General Electric Co.
Avis has seen an executive shakeup in recent months with the departure of its chief executive Larry De Shon last December, and the appointment of Joe Ferraro as interim CEO as the company continues its search for a permanent CEO. In February, the company appointed Bernardo Hees, the former CEO of the The Kraft Heinz Co., as its new board chairman.
Avis Budget Group is the parent company of Avis Car Rental, Budget Car Rental, Budget Truck Rental, Payless Car Rental, Apex Car Rentals, Maggiore Group and Zipcar.