ST. PETERSBURG, Fla. -- Rick Stevens, Payless Car Rental Systems's chief financial officer, has been promoted to company president.

Stevens replaces Michael Harley, who will shift his focus to managing Payless Car Sales. Harley will also oversee the launch of a new Avalon Global Group subsidiary in the self-storage industry. Payless Car Rental and Payless Car Sales are Avalon subsidiaries as well.

Stevens joined Payless five years ago as CFO. In the past year, he has also assumed responsibility for the company's six corporate-owned stores.

"We intend to aggressively expand the company through corporate acquisitions, new store openings, as well as enhancing the franchise base," Stevens said.