Avis Budget CEO to step down

Avis Budget Group Inc. said Tuesday that Larry De Shon, the rental car company's chief executive, will step down when a successor is named. He will continue to work with the company through year-end to help with the transition. Avis has formed a search committee for a new CEO. De Shon has been with the company since 2006, and has served as CEO for the last four years. Avis stock has rallied 32.7% in 2019, outpacing the S&P 500 index , which is up 12.7% for the period.

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