Avis Budget names John North CFO

Avis Budget Group Inc. said Tuesday it has named John North III as chief financial officer, effective March 18. North is a former CFO of Lithia Motors Inc. who helped that automotive retailer expand from 2010 to 2018, completing several acquisitions and helping to integrate them. He will replace interim CFO Martyn Smith, who will remain at the company in an advisory role for at least six months after North joins. Shares rose 0.9% premarket, but have fallen 28.3% in the last 12 months, while the S&P 500 has gained 1.6%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.