Avis Budget Group names permanent CFO

Avis Budget Group, the Parsippany-based car rental giant, has named a new chief financial officer, replacing the company’s interim CFO.

John F. North III will join the company March 18, overseeing all of its financial aspects, including financial planning and analysis, accounting and financial reporting, tax, investor relations and more. He will replace interim CFO Martyn Smith, who will serve until March 18 and then transition into an advisory role for at least six months.

“We are delighted to have John join our company,” CEO and President Larry D. De Shon said in a prepared statement. “He is a strategic and innovative leader with deep finance experience. Additionally, his background in the auto retail industry will serve the company well as we execute our strategy for success in mobility and sustained, profitable growth, including our initiative to increase our direct-to-consumer vehicle sales.”

North has held financial leadership roles at Lithia Motors Inc., a major automotive retailer, since 2002, including serving as CFO and chief accounting officer.

Smith has spent 16 years with the company and Avis Europe plc, which Avis Budget Group acquired in 2011.