AutoNation recently stated that four of their senior executives, which included their Chief Operating Officer, will be exiting the company as AutoNation continues to restructure. The company also stated they expect 2019 to be somewhat difficult for them as they continue these changes.
The top U.S. auto retailer is consolidating its regional structure from three regions to two and expects the restructuring to save about $50 million annually, it said.
AutoNation said COO Lance Iserman and Chief Technology Officer Tom Conophy will leave effective immediately, while its chief human resource officer, Dennis Berger, will leave at the end of the month.
Fort Lauderdale, Florida-based AutoNation appointed company veteran James Bender as executive vice president of sales.
It also said Donna Parlapiano, executive vice president, franchise network, merger & acquisitions, and corporate real estate, elected to retire on Jan. 3.
The restructuring comes as analysts forecast a dip in U.S. vehicle sales this year. New vehicle sales in the United States are expected to drop as higher interest rates and rising prices could prompt customers to hold off their car-buying plans, the National Automobile Dealers Association said last month.
Recently, the company introduced a used-car subscription service from auto-leasing startup Fair through its network of more than 300 U.S. dealers.
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