Avis Budget Group president and CEO, Larry De Shon is stepping down.
De Shon will remain in the position until a successor is appointed and will stay with the company until the end of the year to enable a smooth transition.
The search for a replacement is underway.
De Shon joined Avis Budget Group in 2006 and held the chief executive position for the past four years.
"Larry has played an instrumental role in positioning Avis Budget for the future of mobility, while navigating through unprecedented industry challenges," said Leonard S. Coleman, board chairman.
Prior to the chief executive role, De Shon was president of international operations and previously led EMEA and US operations.
Before joining the company De Shon spent nearly three decades at United Airlines.
