PMU CEO moves on

Philippe Germond, chief executive officer of French operator Pari Mutuel Urbain, resigned his position earlier this week.

Having spent five and a half years at PMU, Germond will take up the role of chief executive officer for car rental company Europcar Groupe ahead of its planned IPO in 2015.

Under his leadership, PMU reported a net profit of Euro 860 million last year compared to Euro 730 million at the time Germond took on the role.

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