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Form 8-K AUTONATION, INC. For: Jan 16

January 16, 2015 5:10 PM EST



UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date Of Report (Date Of Earliest Event Reported) January 15, 2015
AutoNation, Inc.
(Exact name of registrant as specified in its charter)
Delaware
1-13107���
73-1105145
(State or other jurisdiction
of incorporation)
(Commission�����
File Number)�����
(IRS Employer
Identification No.)
200 SW 1st Ave
Fort Lauderdale, Florida 33301
(Address of principal executive offices, including zip code)
Registrant's telephone number, including area code (954)�769-6000
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
o
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))






Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On January 15, 2015, the Board of Directors (the Board) of AutoNation, Inc. (the Company):
"
appointed Mike Jackson as President of the Company, in addition to his current positions as Chairman of the Board and Chief Executive Officer of the Company, effective February 4, 2015,
"
approved an amendment to Mr. Jacksons employment agreement (as amended, the Amended Employment Agreement) in order to, among other things, extend such agreement until December 31, 2019, and
"
promoted William Berman, Senior Vice President, Sales of the Company, to the position of Executive Vice President and Chief Operating Officer of the Company effective February 4, 2015.
Mike Jackson, age 65, has served as our Chairman of the Board since January 2003 and as our Chief Executive Officer and Director since September 1999. Mr. Berman, age 48, has served in his current position since October 2014. Since 1999, Mr. Berman has served in various roles within the Company, including as President of the Companys Western Region, with responsibility for stores located in California, Washington, Nevada, and Arizona, from October 2008 through September 2014.
The Amended Employment Agreement, dated January 15, 2015, is filed as Exhibit 10.1 to this report and is incorporated herein by reference. The foregoing summary of the Amended Employment Agreement is qualified in its entirety by reference to such agreement.
In connection with Mr. Bermans promotion, the Compensation Committee (the Committee) of the Board approved a new compensation arrangement for Mr. Berman. Effective February 4, 2015, Mr. Berman will be entitled to receive an annual base salary of $700,000. In addition, Mr. Berman will participate in the 2015 annual incentive program established by the Committee under the AutoNation, Inc. Senior Executive Incentive Bonus Plan with a 2015 target award equal to 80% of his annual base salary, with the performance goals and other terms of the incentive award to be established at a later date by the Committee. Mr. Berman will also participate in the Companys annual equity program.
On January 15, 2015, Michael E. Maroone provided notice to the Board of his resignation from his positions as President and Chief Operating Officer of the Company and as a member of the Board effective February 3, 2015. From February 4, 2015 through April 1, 2015, Mr. Maroone will continue to serve as an employee of the Company in an advisory capacity on transition matters, with compensation consistent with his current compensation as President and Chief Operating Officer of the Company. Mr. Maroone will retire from the Company on April 1, 2015.
A copy of the Companys press release announcing Mr. Jacksons expanded role with the Company, Mr. Bermans promotion, and Mr. Maroones retirement from the Company is attached as Exhibit 99.1 to this report.

Item 9.01 Financial Statements and Exhibits.
(d)
Exhibits
The following exhibit is furnished as part of this report:
10.1
Amended Employment Agreement, dated January 15, 2015, by and between AutoNation, Inc. and Mike Jackson, Chairman and Chief Executive Officer.
99.1
Press Release of AutoNation, Inc. dated January 15, 2015.







SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

AUTONATION, INC.
Date:
January 16, 2015
By:
/s/ Jonathan P. Ferrando
Jonathan P. Ferrando
Executive Vice President - General Counsel, Corporate Development and Human Resources





Exhibit 10.1
AMENDED EMPLOYMENT AGREEMENT
This Amended Employment Agreement (this Agreement) is entered into as of January 15, 2015 by and between AutoNation, Inc. (together with its subsidiaries and affiliates, the Company), and Michael J. Jackson (the Executive), an individual resident of the State of Florida.
RECITALS
WHEREAS, the Executive currently serves as the Chairman and Chief Executive Officer of the Company pursuant to an Employment Agreement dated as of July 25, 2013 (the Prior Employment Agreement), which is scheduled to expire by its terms on September�24, 2016; and
WHEREAS, the Company and the Executive desire to amend and restate the Prior Employment Agreement with this Agreement, effective as of the date hereof, and desire to set forth herein amended terms and conditions of the Executives employment with the Company, including certain non-competition covenants applicable to the Executive.
TERMS OF AGREEMENT
In consideration of the mutual representations, warranties, covenants and agreements contained in this Agreement, the parties hereto agree as follows:
1.
Employment.
(a)Employment Period. The Executive shall serve as Chairman and Chief Executive Officer of the Company. Effective as of February 4, 2015, the Executive shall also serve as President of the Company until the Board determines otherwise. The period during which the Executive shall serve as Chairman and Chief Executive Officer of the Company (the Employment Period) pursuant to the terms of this Agreement shall commence on the date hereof and shall continue until the close of business on December 31, 2019, unless earlier terminated pursuant to Paragraph 2 of this Agreement. The parties hereto agree that the Prior Employment Agreement shall terminate and be of no further force and effect as of the execution and delivery of this Agreement.
(b)Duties and Responsibilities. During the Employment Period, the Executive shall have such authority and responsibility and perform such duties as are customary to the offices the Executive holds or as may be assigned to him from time to time at the direction of the Companys Board of Directors. During the Employment Period, the Executives employment shall be full time and the Executive shall perform his duties honestly, diligently, competently, in good faith and in what he believes to be the best interests of the Company and shall use his best efforts to promote the interests of the Company.
(c)Base Salary. In consideration for the Executives services hereunder and the restrictive covenants contained herein, the Executive shall be paid a base salary during the Employment Period at an annual rate of $1,250,000 (the Salary). The Salary will be payable in accordance with the Companys customary payroll practices and will be subject to annual review and adjustment by the Compensation Committee (the Committee) of the Companys Board of Directors (or such other duly authorized committee or subcommittee, as applicable); provided, however, that the Salary shall not be reduced during the Employment Period.
(d)Bonus. During the Employment Period, the Executive shall participate in the Companys Senior Executive Incentive Bonus Plan (the Plan), or any successor or substitute to the Plan, at such target award levels and upon such terms and conditions as are determined in the discretion of the Committee (or such other duly authorized committee or subcommittee, as applicable); provided, however, that the target award level for annual incentive bonuses under the Plan, or any successor or substitute to the Plan, will be no less than the existing target award level of 150% of the Executives Salary at such time. A portion of the Executives annual bonus will be deferred in accordance with the existing 3-year deferred bonus program for the Executive adopted by the Executive Compensation Subcommittee in 2013. Upon expiration of the existing 3-year deferred bonus program at the end of 2015, a new 3-year deferred bonus program similar to the current program will be established for the Executive.
(e)Benefits. During the Employment Period, the Executive shall be entitled to (i)�participate in any retirement plans, insurance programs and other fringe benefit plans and programs as are from time to time established and maintained for the benefit of executives of the Company, subject to the provisions of such plans and programs, (ii)�participate in the





AutoNation, Inc. CEO and President Vehicle Program (or successor program), and (iii)�use of the Companys corporate aircraft for personal travel for up to 70 hours per year (provided that the value of such travel will be included in the Executives annual income subject to tax in accordance with the applicable regulations of the Internal Revenue Service and Company policy).
(f)Expenses. In addition to the compensation and benefits described above, the Executive shall be reimbursed for all out-of-pocket expenses reasonably incurred by him on behalf of or in connection with the business of the Company during the Employment Period, upon delivery of receipts and pursuant to the reimbursement standards and guidelines of the Company.
(g)Equity-Based Awards. The Executive shall be entitled to participate in any annual stock option or other equity-based awards during the Employment Period (or other broad-based stock option or other equity-based awards that include senior executives of the Company) at an appropriate level as determined by the Committee (or such other duly authorized committee or subcommittee, as applicable).
2.Termination.
(a)Cause, Death and Disability. At any time during the Employment Period, the Company shall have the right to terminate the Employment Period and to discharge the Executive for Cause (as defined below). Upon any such termination by the Company for Cause, the Executive or his legal representatives shall be entitled to that portion of the Salary prorated through the date of termination, and the Company shall have no further obligations hereunder. Termination for Cause shall mean termination because of: (i)�the Executives breach of his covenants contained in this Agreement; (ii)�the Executives failure or refusal to perform the duties and responsibilities required to be performed by the Executive under the terms of this Agreement; (iii)�the Executive willfully engaging in illegal conduct or gross misconduct in the performance of his duties hereunder (provided, that no act or failure to act shall be deemed willful if done, or omitted to be done, in good faith and with the reasonable belief that such action or omission was in the best interests of the Company); (iv)�the Executives commission of an act of fraud or dishonesty affecting the Company or the commission of an act constituting a felony; or (v)�Executives violation of Company policies in any material respect.
The Company acknowledges that the Executive may resign or otherwise terminate the Employment Period and his employment with the Company without Good Reason (as defined below), provided that (a)�the Company shall have no further obligations hereunder from and after the end of the Employment Period in such event and the Executives rights with respect to any employee stock options or other grants held by him shall be as set forth in the applicable equity or other incentive plan and any stock option or other grant agreements and (b)�Executive shall provide reasonable written notice to the Company (in no event less than twenty (20)�business days) of such resignation or termination, shall provide a reasonable transition of his duties and responsibilities with the Company and shall coordinate with the Company as to the public communication of the resignation or termination in order to ensure an orderly transition.
In addition, in the event that during the Employment Period the Executive (i)�dies, the Employment Period shall automatically terminate, or (ii)�is unable to perform his duties and responsibilities as provided herein due to his physical or mental disability or sickness (a)�for more than ninety (90)�days (whether or not consecutive) during any period of twelve (12)�consecutive months or (b)�reasonably expected to extend for greater than three (3)�months, the Company may at its election terminate the Employment Period and Executives employment. In the case of clause (i)�or clause (ii)�above, the Company shall have no further obligations hereunder from and after such termination date and the Executives rights with respect to any employee stock options or other grants held by him shall be as set forth in the applicable equity or other incentive plan and any stock option or other grant agreements.
(b)Without Cause by the Company or by Executive for Good Reason. At any time during the Employment Period, the Company shall have the right to terminate the Employment Period and to discharge the Executive without Cause effective upon delivery of written notice to the Executive. At any time during the Employment Period, the Executive shall have the right to terminate the Employment Period for Good Reason if, after delivery of written notice to the Company, the Company has not cured the circumstances constituting Good Reason within ten (10)�business days. Upon such termination of the Employment Period by the Company without Cause or by the Executive for Good Reason, as long as the Executive is in compliance with the provisions of Paragraphs 3 and 4 below and within thirty (30)�days of termination of Executives employment the Executive executes a reasonable and mutually acceptable severance agreement with the Company that includes a release of the Company and a covenant of reasonable cooperation on matters Executive is involved with pertaining to the Company (a Severance Agreement), the Executive will be entitled to an amount equal to (i)�the sum of the Executives then-current Salary plus annual bonus awarded to the Executive for the calendar year prior to such termination of the Executives employment plus (ii)�the pro rata portion (based on the portion of the calendar year actually served by the Executive) of the annual bonus to which the Executive would have been entitled had the Executive not been terminated, to the extent applicable





performance targets are met. Payment of the amount due under clause (i)�above will be made by the Company within thirty (30)�days following termination of the Executive. Payment of the amount due under clause (ii)�above will be made by the Company at the same time as annual bonuses are paid to the Companys other executives under the Plan for the year in which the Executive is terminated, but in no event later than March 15 of the following year.
In addition, upon such termination of the Employment Period by the Company without Cause or by the Executive for Good Reason, as long as the Executive is in compliance with the provisions of Paragraphs 3 and 4 below and the Executive executes a Severance Agreement within thirty (30)�days of termination of Executives employment:
(1)the Executive and his dependents will be entitled to continue to participate in the Companys group health and welfare benefit plans (as such plans are in effect at such time) for a period of 18 months following such termination at the same cost to the Executive as such benefits were provided prior to such termination (or the Company will procure and pay for comparable benefits during such time period);
(2)all vested employee stock options or other grants carrying a right to exercise held by the Executive as of such termination will survive and be exercisable until the expiration of their initial term, at which time such stock options or other grants carrying a right to exercise, if not exercised, will terminate and be void; and
(3)all unvested employee stock options or other grants held by the Executive will immediately vest on such termination, and employee stock options or other grants carrying a right to exercise will survive and be exercisable until the first anniversary of such termination, at which time such stock options or other grants carrying a right to exercise, if not exercised, will terminate and be void.
At all times during the Employment Period, unless otherwise elected by the Executive with respect to all outstanding equity-based awards, the foregoing provisions of clause (2)�and clause (3)�of this paragraph shall govern in the event of any conflict between such provisions and the provisions of any stock option or other grant agreement to which the Executive is a party or the provisions of any equity or other incentive plan pursuant to which the Executives employee stock options or other grants were granted.
Good Reason shall mean the occurrence of any of the following: (i)�a material change by the Company in the Executives duties or responsibilities which would cause Executives position with the Company to become of materially and substantially less responsibility and importance than those associated with his duties or responsibilities as of the date hereof; provided, however, that removal of the Executive from the position of President shall not constitute Good Reason; or (ii)�a material breach of this Agreement by the Company, which breach is not cured within ten (10)�days after written notice thereof is received by the Company.
(c)Upon termination of the Employment Period hereunder, at the Companys request the Executive shall resign from the Companys Board of Directors.
(d)Notwithstanding anything contained herein to the contrary, to the extent required in order to avoid accelerated taxation and/or tax penalties under Section�409A of the Internal Revenue Code of 1986, as amended (the Code), (i)�no amounts shall be paid to the Executive under Section�2 of this Agreement until the Executive would be considered to have incurred a separation from service from the Company within the meaning of Section�409A of the Code, and (ii)�amounts that would otherwise be payable and benefits that would otherwise be provided pursuant to this Agreement during the six-month period immediately following the Executives separation from service shall instead be paid within 30 days following the date that is six months following the Executives separation from service (or death, if earlier). Each amount to be paid or benefit to be provided to the Executive pursuant to this Agreement, which constitutes deferred compensation subject to Section�409A, shall be construed as a separate identified payment for purposes of Section�409A. To the extent required to avoid accelerated or additional tax under Section�409A, amounts reimbursable to Executive under this Agreement shall be paid to Executive on or before the last day of the year following the year in which the expense was incurred and the amount of expenses eligible for reimbursement (and in-kind benefits provided to Executive) during any one year may not effect amounts reimbursable or provided in any subsequent year.
3.Restrictive Covenants. The Executive hereby acknowledges that the Company is as of the date hereof engaged primarily in the sale, leasing, financing and servicing of new and used vehicles, as well as the provision of related services and products, such as the sale of parts and accessories, extended service contracts, aftermarket automotive products and collision repair services (the Auto Business). The Executive further acknowledges that: (i)�the Company may engage in additional related businesses or in separate and distinct businesses from time to time, (ii)�the Company currently engages in its businesses by means of traditional retail establishments, the Internet and otherwise and the Company may in the future engage in its





businesses by alternative means, and (iii)�the Executives position with the Company is such that he will be privy to specific trade secrets, confidential information, confidential business lists, confidential records, customer goodwill, specialized training and employees, any or all of which have great and competitive value to the Company.
The Executive hereby agrees that, during the Executives employment with the Company and for a period of one (1)�year following the termination of the Executives employment with the Company (by the Company or the Executive for any reason), the Executive shall not, directly or indirectly, anywhere in the United States (or in any other geographic area outside the United States where the Company conducts business at any time during Executives employment with the Company):
(a)participate or engage in or own an interest in, directly or indirectly, any individual proprietorship, partnership, corporation, joint venture, trust or other form of business entity, whether as an individual proprietor, partner, joint venturer, officer, director, member, employee, consultant, independent contractor, stockholder, lender, landlord, finder, agent, broker, trustee, or in any manner whatsoever (except for an ownership interest not exceeding 1% of a publicly-traded entity), if such entity or its affiliates is engaged, directly or indirectly, in the Auto Business or any other business of the type and character engaged in or competitive with any business conducted by the Company at any time during the Executives employment by the Company on or after the date hereof;
(b)employ, or knowingly permit any company or business directly or indirectly controlled by him to employ, any person who was employed by the Company or any subsidiary or affiliate of the Company at or within the prior six (6)�months, or in any manner seek to induce any such person to leave his or her employment (including, without limitation, for or on behalf of a subsequent employer of the Executive);
(c)solicit any customers to patronize any business directly or indirectly in competition with the businesses conducted by the Company or any subsidiary or affiliate of the Company at any time during the Executives relationship with the Company; or
(d)request or advise any Person who is a customer or vendor of the Company or any subsidiary or affiliate of the Company or its successors to withdraw, curtail or cancel any such customers or vendors business with any such entity.
4.Confidentiality. The Executive acknowledges that he previously entered into, and will continue to abide by, the Employee Confidentiality Agreement dated July 24, 2002. The Executive hereby also agrees that, without the prior approval of the Company, he shall not at any time during his employment with the Company and for a period of five (5)�years thereafter: (1)�give any interviews or speeches, write any books or articles, make any public statements (whether through the press, at automobile trade conferences or meetings or through similar media), or make any disparaging or negative statements: (x)�concerning the Company or any of its businesses or reputation or the personal or business reputations of its directors, officers, shareholders or employees, (y)�concerning any matter he has participated in while an employee of the Company, or (z)�in relation to any matter concerning the Company or any of its businesses occurring after the Employment Period; or (2)�in any way impede, disrupt or interfere with the contracts, agreements, understandings, communications or relationships of the Company with any third party.
5.Acknowledgments of the Parties. The parties agree and acknowledge that the restrictions contained in Paragraphs 3 and 4 are reasonable in scope and duration and are necessary to protect the Company. If any provision of Paragraphs 3 or 4 as applied to any party or to any circumstance is adjudged by a court to be invalid or unenforceable, the same shall in no way affect any other circumstances or the validity or enforceability of any other provisions of this Agreement. If any such provision, or any part thereof, is held to be unenforceable because of the duration of such provision or the area covered thereby, the parties agree that the court making such determination shall have the power to reduce the duration and/or area of such provision and/or to delete specific words or phrases and in its reduced form, such provision shall then be enforceable and shall be enforced. The Executive agrees and acknowledges that the breach of Paragraph 3 or 4 will cause irreparable injury to the Company, and upon breach of any provision of such Paragraphs, the Company shall be entitled to injunctive relief, specific performance or other equitable relief, provided, however, that such remedies shall in no way limit any other remedies which the Company may have (including, without limitation, the right to seek monetary damages).
6.Notices. All notices, requests, demands, claims or other communications hereunder shall be in writing and shall be deemed given if delivered by certified or registered mail (first class postage pre-paid), hand delivery, guaranteed overnight delivery or facsimile transmission, if such transmission is confirmed by certified or registered mail (first class postage pre-paid) or guaranteed overnight delivery, to the following addresses and telecopy numbers (or to such other addresses or telecopy numbers which such party shall designate in writing to the other parties):





To the Company:

AutoNation, Inc.
200 SW 1st Ave, Ste 1600
Fort Lauderdale, Florida 33301
Attention: General Counsel
Telecopy: (954)�769-6340
To Executive:

Michael J. Jackson
AutoNation, Inc.
200 SW 1st Ave, Ste 1600
Fort Lauderdale, Florida 33301
Telecopy: (954)�769-6402
7.Amendment, Waiver, Remedies. This Agreement may not be modified, amended, supplemented, extended, canceled or discharged, except by written instrument executed by all parties. No failure to exercise, and no delay in exercising, any right, power or privilege hereunder preclude the exercise of any other right, power or privilege. No waiver of any breach of any provision shall be deemed to be a waiver of any preceding or succeeding breach of the same or other provision, nor shall any waiver be implied from any course of dealing between the parties. No extension of time for performance of any obligations or other acts hereunder or under any other agreement shall be deemed to be an extension of the time for performance of any other obligations or any other acts. The rights and remedies of the parties under this Agreement are in addition to all other rights and remedies, at law or in equity, that they may have against each other.
8.Assignment. This Agreement, and the Executives rights and obligations hereunder, may not be assigned by him. The Company may assign its rights, together with its obligations hereunder, to any of its affiliates or subsidiaries, or any successor thereto.
9.Severability; Survival; Term. In the event that any provision of this Agreement is found to be void and unenforceable by a court of competent jurisdiction, then such unenforceable provision shall be deemed modified so as to be enforceable (or if not subject to modification then eliminated herefrom) for the purpose of those procedures to the extent necessary to permit the remaining provisions to be enforced. The provisions of this Agreement (other than Paragraph 1 and, except for obligations in Paragraph 2 resulting from a termination of the Employment Period, Paragraph 2) will survive the termination for any reason of the Employment Period and Executives relationship with the Company. If the Employment Period has not been terminated in accordance with Paragraph 2 of this Agreement prior to December 31, 2019, (i)�the respective obligations of the parties under Paragraphs 1 and 2 hereof shall terminate on December 31, 2019, and (ii)�the provisions of Paragraphs 3-11 under this Agreement shall survive.
10.Counterparts. This Agreement may be signed in any number of counterparts, each of which shall be an original but all of which together shall constitute one and the same instrument.
11.Governing Law. This Agreement shall be construed in accordance with and governed for all purposes by the laws of the State of Florida applicable to contracts executed and to be wholly performed within such State.
12.Agency. Nothing herein shall imply or shall be deemed to imply an agency relationship between the Executive and the Company.
* * * *






IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first above written.
AUTONATION, INC., a Delaware corporation
/s/ Jonathan P. Ferrando
Jonathan P. Ferrando
Executive Vice President
/s/ Michael J. Jackson
MICHAEL J. JACKSON, individually






Exhibit 99.1
Contact: Marc Cannon
(954) 769-3146
[email protected]

Investor contacts: Andrew Wamser
(954) 769-7023
[email protected]

Robert Quartaro
(954) 769-7342
[email protected]

Mike Jackson to Take on Expanded Role of AutoNation Chairman, Chief Executive Officer and President under Employment Contract Extension Through 2019
- President and COO Mike Maroone announces retirement after 18-year career
- AutoNation long-time executive Bill Berman named EVP and COO

FORT LAUDERDALE, Fla.,�Jan. 15, 2015�/PRNewswire/ --AutoNation, Inc.�(NYSE: AN), �Americas largest automotive retailer, today announced that�Mike Jackson, Chairman and CEO, has been named to the additional role of President effective�February 4, 2015�and has signed a five year employment contract extension through 2019.�Mr. Jackson has been the CEO of�AutoNation�since 1999 and the Chairman since 2002.�

The Company also announced that�Mike Maroone�will be retiring on�April 1, 2015, after over 15 years as President and Chief Operating Officer. �

Mike Jackson�stated, Mike Maroone�and I have had a fifteen year partnership that has brought�AutoNation�tremendous success building Americas premier Automotive Retailer.�I am thankful for his leadership and partnership over the years, and wish him all the best after his retirement from�AutoNation.

Mike Maroone�stated, I have had a rewarding career as an executive at�AutoNation�over my 18 years with the Company.�I am proud to have been a key part of the leadership team responsible for the Companys operating success.�I look forward to the Companys continued success in the future.

Long-time�AutoNation�executive�Bill Berman�has been promoted to Executive Vice President and Chief Operating Officer effective�February 4, 2015. Mr. Berman is currently Senior Vice President, Sales. Previously, he served in a variety of positions including: President of the Western Region since 2008, which includes�California,�Arizona,�Nevada, and�Washington�and is made up of 84 stores, President of�AutoNations�Northern California Market, and as a General Manager.

Mr. Jackson commented, Bills vast retail experience and having served in many�AutoNation�capacities since 1999 makes him extremely well-suited to continue the operational excellence and peerless customer experience that�AutoNation�delivers.�He will join a strong leadership team that is well positioned to drive�AutoNations�success well into the future.

Mike Maroone�will continue serving as President and Chief Operating Officer and on the Board of Directors of�AutoNation�until�February 3, 2015.�Thereafter, Mr. Maroone will serve in a transitional role with the Company until his�April 1�retirement.

AboutAutoNation, Inc.
AutoNation�is transforming the automotive retail industry through bold leadership. We deliver a superior automotive retail experience through our customer-focused sales and service processes. Owning and operating 281 new vehicle franchises, which sell 34 new vehicle brands across 15 states,�AutoNation�is Americas largest automotive retailer, with state-of-the-art operations and the ability to leverage economies of scale that benefit the customer. As an indication of our leadership position in our industry,�AutoNation�is a component of the�S&P�500 Index.





Please visit investors.autonation.com,�www.autonation.com,�www.twitter.com/autonation,�www.twitter.com/CEOMikeJackson,�www.facebook.com/autonation, and�www.facebook.com/CEOMikeJackson, where�AutoNation�discloses additional information about the Company, its business, and its results of operations.





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