Scott Griffith, chief executive of Zipcar Inc., told employees that he is leaving the Cambridge-based car-sharing company that was recently purchased by Avis Budget Group for $500 million.
In a memo to employees, Griffith said he would be succeeded by Zipcar president Mark Norman.
In his memo, Griffith wrote: “After a thoughtful review of the company’s needs over the next several years, I’ve concluded it’s best if I step back and give someone else the opportunity to put the pedal down and take Zipcar to the next level. This is a bittersweet decision because I don’t feel like my work here is completely done. I recently heard someone say ‘artists rarely feel they have finished a piece of work, rather at some point they simply decide put their brush down and move on to their next piece.’ I get that. It’s time to put my brush down and move on to my next piece. So as of today, I’ll be handing off our unfinished canvas to a new leader. With great excitement, I’ll be proudly transitioning the leadership of the company to Mark Norman and the team that will take Zipcar to the next level.”
Zipcar controls an estimated three-quarters of the North American hourly car rental market, but faces increased competition from traditional rental car companies.