John North III, who is resigning from his chief financial officer post at Lithia Motors effective March 1, is joining Avis Budget Group as its CFO, effective March 18.
Avis Budget noted in a news release that North will oversee all financial aspects of the business, including financial planning and analysis, accounting and financial reporting, tax, internal audit, investor relations, and treasury and risk management.
Martyn Smith will continue serving as interim chief financial officer until March 18 and will serve in a transitional and advisory role for at least six months after that, according to the company. He served for 16 years with Avis Budget Group and Avis Europe.
North has held various leadership positions in finance since 2002, most recently as CFO at Lithia.
Avis Budget noted in a news release that North helped lead the transformation of Lithia’s finance and accounting functions during a period of significant growth for the company from 2010 to 2018. He also helped complete various acquisitions and integrate those businesses.
North holds a degree in finance from Santa Clara University and is a certified public accountant.
Larry De Shon, president and chief executive officer of Avis Budget Group, said in a news release that North is a “strategic and innovative leader” with strong 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,” De Shon said in a news release.
Lithia said in its latest quarterly earnings release that North informed the company of his plans to resign from his positions after the company files its 2018 Annual Report on Form 10-K.
Lithia vice president and corporate controller Tina Miller will become interim principal finanical officer on March 1, as the company searches for a new CFO.