Avis Budget Group Inc.'s Board of Directors has selected Larry D. De Shon as the company's next chief executive officer, succeeding Ronald L. Nelson, who has held the position since 2006.

De Shon, the company's president, International, will become president and CEO effective Oct. 1, 2015 and will assume the role of CEO on Jan. 1, 2016. He has also been appointed to the Board, effective Oct. 1, according to the company.

Nelson, who became chairman of the board of Avis Budget Group in 2006, will continue as executive chairman.

De Shon joined Avis Budget in 2006 and has previously overseen Avis Budget's Europe, Middle East and Africa (EMEA) and U.S. operations. Prior to joining Avis Budget, he had a 28-year career at United Airlines.

"The opportunity to lead Avis Budget Group is a tremendous honor,” said De Shon. “I look forward to continue working with David and the entire senior leadership team to engage our exceptional employees and produce results for all stakeholders."

Avis Budget’s senior executive vice president and chief financial officer, David B. Wyshner, will become the company's president, effective Jan. 1, 2016. In his new role, Wyshner will assume global responsibility for the company's strategy, licensing and integration of the demand/fleet/pricing system — in addition to his current responsibilities as chief financial officer, according to the company.

"Larry and David have an extremely strong track record of producing results and are eminently qualified for their new positions,” said Nelson. “We have worked diligently with the Board over the past several years to successfully develop and prepare them for their new roles. … ”