AutoNation Adds Tenured Leaders to Executive Team
On March 3, 2022, AutoNation (NYSE: AN) announced an expansion of its Executive Team, appointing Dave Koehler as Chief Operating Officer for Non-Franchised Business and Steve Kwak as Chief Operating Officer for Franchised Business. Both executives have over ten years with AutoNation and nearly sixty years of combined automotive experience. This restructuring aims to enhance leadership focus and support the company's growth, especially in AutoNation USA and its auction and collision businesses. Former COO Jim Bender will depart on March 4, 2022.
- Appointment of experienced leaders to enhance operational focus.
- Strategic reorganization aimed at supporting growth initiatives.
- Departure of COO Jim Bender may create operational uncertainty.
- No financial metrics disclosed regarding the restructuring impact.
FORT LAUDERDALE, Fla., March 3, 2022 /PRNewswire/ -- AutoNation, Inc. (NYSE: AN), America's largest and most admired automotive retailer, today announced that the Company is expanding its Executive Team. Dave Koehler, who currently serves as the Eastern Region President, will be Chief Operating Officer, Non-Franchised Business. Mr. Koehler will oversee AutoNation USA, AutoNation Auto Auctions, and the AutoNation Collision business. Steve Kwak, who currently serves as the Western Region President and AutoNation USA President, will be Chief Operating Officer, Franchised Business. Mr. Kwak will oversee all activities and teams related to the new car franchise operations, manufacturer relations, Customer Financial Services, and After-Sales operations. Mr. Koehler and Mr. Kwak will report directly to AutoNation's CEO Mike Manley.
"Steve and Dave have nearly sixty years of combined automotive experience and both have been with AutoNation for over ten years. They are exceptional leaders whose expertise will continue to support the trajectory and the strategy of AutoNation," said Mike Manley. "With the significant investment, growth plans, and success of AutoNation USA coupled with our opportunity to develop our collision and auction business it is now time to ensure these operating units have the highest level of leadership and focus."
AutoNation has always been at the leading edge of innovation in the automotive retail industry. As the Company continues to expand and develop its business model, it is the appropriate time to restructure business units to reflect AutoNation's forward focus and purpose.
AutoNation will announce replacement Eastern and Western Region Presidents in the near future. As previously announced, Chief Operating Officer and President, Jim Bender will be leaving the Company on March 4, 2022. Mike Manley commented, "We would like to thank Jim for the leadership and significant contribution he brought to AutoNation for the past twenty-two years."
About AutoNation, Inc.
AutoNation, a provider of personalized transportation services, is driven by innovation and transformation. As one of America's most admired companies, AutoNation delivers a peerless customer experience recognized by data-driven consumer insight leaders, Reputation, and J.D. Power. Through its bold leadership and brand affinity, the AutoNation Brand is synonymous with "DRVPNK" and "What Drives You, Drives Us." AutoNation has a singular focus on personalized transportation services that are easy, transparent, and customer-centric.
Please visit www.autonation.com, investors.autonation.com, www.twitter.com/CEOMikeManley, and www.twitter.com/AutoNation, where AutoNation discloses additional information about the Company, its business, and its results of operations. Please also visit www.autonationdrive.com, AutoNation's automotive blog, for information regarding the AutoNation community, the automotive industry, and current automotive news and trends.
FORWARD-LOOKING STATEMENTS
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Words such as "anticipates," "expects," "intends," "goals," "targets," "projects," "plans," "believes," "continues," "may," "will," "could," and variations of such words and similar expressions are intended to identify such forward-looking statements. Statements regarding our strategic initiatives, partnerships, or investments, including the planned expansion of our AutoNation USA pre-owned vehicle stores and our investments in digital and online capabilities, statements regarding our expectations for the future performance of our business and the automotive retail industry, and other statements that describe our objectives, goals, or plans, are forward-looking statements. Our forward-looking statements reflect our current expectations concerning future results and events, and they involve known and unknown risks, uncertainties, and other factors that are difficult to predict and may cause our actual results, performance, or achievements to be materially different from any future results, performance, and achievements expressed or implied by these statements. These risks, uncertainties, and other factors include, among others: our ability to implement successfully our strategic initiatives, partnerships, and investments, including the planned expansion of our AutoNation USA stores; our ability to identify, acquire, and build out suitable locations in a timely manner; our ability to develop successfully our digital and online capabilities; our ability to maintain and enhance our retail brands and reputation and to attract consumers to our own digital channels; our ability to acquire and integrate successfully new franchises; restrictions imposed by vehicle manufacturers and our ability to obtain manufacturer approval for acquisitions; economic conditions, including changes in unemployment, interest, and/or inflation rates, consumer demand, fuel prices, and tariffs; supply chain disruptions and inventory availability; new and used vehicle margins; our ability to attain planned sales volumes within our expected time frames; our ability to successfully implement and maintain expense controls; the success and financial viability and the incentive and marketing programs of vehicle manufacturers and distributors with which we hold franchises; the response by federal, state, and local governments and other parties to, and the economic impacts of, the COVID-19 pandemic; natural disasters and other adverse weather events; the resolution of legal and administrative proceedings; regulatory factors affecting our business, including fuel economy requirements; the announcement of safety recalls; factors affecting our goodwill and other intangible asset impairment testing; and other factors described in our news releases and filings made under the securities laws, including, among others, our Annual Reports on Form 10-K, our Quarterly Reports on Form 10-Q and our Current Reports on Form 8-K. Forward-looking statements contained in this news release speak only as of the date of this news release, and we undertake no obligation to update these forward-looking statements to reflect subsequent events or circumstances.
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SOURCE AutoNation, Inc.
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