AutoNation Names New CEO

AutoNation Inc., the biggest car dealership chain in the U.S., has chosen Carl Liebert as its new president and CEO, effective March 11.

Liebert, 53, succeeds Mike Jackson, the blunt-talking executive who has led the chain since 1999. Jackson, 70, will continue as AutoNation’s executive chairman. Jackson had announced his retirement plans last September.

Liebert most recently was chief operating office of USAA, a financial service for U.S. military families. He formerly was The Home Depot’s head of international sales, strategy and global sourcing.

Jackson, a legend in U.S. automotive retailing, was hired 20 years ago by Wayne Huizenga, the Floridian entrepreneur who launched AutoNation, to jumpstart the struggling enterprise. The company has since grown to more than 325 locations in the U.S. and sold some 12 million vehicles.

AutoNation’s sales in the fourth quarter of 2018 declined 5% to $5.4 billion. Net income shrank 38% to $93 million. For the full year, the company’s revenue dipped less than 1% to $21.4 billion, and net revenue shrank 9% to $396 million.