|Hendrick Automotive Group Announces Leadership Transition|
FOR IMMEDIATE RELEASE
HENDRICK AUTOMOTIVE GROUP ANNOUNCES LEADERSHIP TRANSITION
Edward J. Brown to succeed James. F. Huzl as CEO on Jan. 1, 2011
CHARLOTTE, May 26, 2010 – Edward J. Brown III, a leader at Bank of America and its predecessor companies for 32 years, has joined Hendrick Automotive Group as chief financial officer and will become president and chief executive officer on Jan. 1, 2011, when he will succeed current president and CEO James F. “Jim” Huzl. Mr. Huzl is retiring as planned after a 25-year career at one of the country’s largest automotive retailers.
"Ed’s extensive senior financial management experience, combined with his enthusiasm and community commitment, will be a tremendous asset to Hendrick Automotive Group as we continue to grow,” said Rick Hendrick, chairman of Hendrick Automotive Group. “He’s been a respected member of our company’s partnership committee for more than two years, and we’re proud that he’s joined us in this new role.
“Jim’s dedication to our employees and customers has been integral to our success, and I want to thank him for his immeasurable contribution to Hendrick Automotive Group over the past quarter century. He is an unbelievable friend and leader whose influence will continue to be felt long after his retirement.”
Mr. Brown retired in 2004 after a 32-year career at Bank of America and its predecessors, North Carolina National Bank and NationsBank. Among his many accomplishments, he created the Specialized Industries division; led commercial, corporate and retail banking for the Tampa Bay, Fla., region; served as middle market group executive; and was president of corporate banking.
In 2000, Mr. Brown was promoted to president of global corporate and investment banking services with clients in more than 30 countries and revenues totaling more than $9 billion. He holds a bachelor’s degree from Georgia Institute of Technology and a master’s degree from Harvard Business School.
“I look forward to applying my experience in corporate finance as a member of the Hendrick Automotive Group team,” said Brown, who assumed the role of CFO, a previously unfilled position, on May 17. “This organization is a leader in the automotive sales industry and I am thrilled by the opportunity to be part of their continuing success.”
Mr. Huzl began his career with Hendrick Automotive Group in 1985 as executive vice president and CFO, responsible for all banking and financial relationships, employee benefit programs and corporate and dealership financial information. After eight years in this role, he was promoted to chief administrative officer and in 2004 was named chief operating officer.
In January 2005, Mr. Huzl assumed the role of president and CEO. A former Marine major and graduate of the U.S. Navy Fighter Weapons School, he has a bachelor’s degree from the University of Arkansas and a master’s degree in business administration from the University of Pennsylvania’s Wharton School.
“It has been a great privilege to be part of the Hendrick Automotive Group family,” Mr. Huzl said. “I welcome Ed Brown, who I’ve known for many years, to our team and look forward to working with him over the coming months. I have a great passion for this company and couldn’t be more confident in the talented group of people who will continue to lead it.”
About Hendrick Automotive Group
Hendrick Automotive Group is one of the largest automotive retail organizations in the United States. Headquartered in Charlotte, N.C., the company employs more than 6,000 people, operates 59 dealerships, 87 franchises and 18 collision-repair shops in 10 states from the Carolinas to California. For more information, please visit www.HendrickAuto.com.
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