Lithia & Driveway COO to join Mercedes-Benz USA as CEO

MEDFORD, Ore. - Lithia & Driveway (NYSE: LAD), a leading automotive retailer, announced today that its Executive Vice President and Chief Operating Officer Adam Chamberlain is set to become the CEO of Mercedes-Benz USA starting June 1, 2025. The move marks a significant transition for Chamberlain, who has played a crucial role in strengthening Lithia & Driveway’s operations and driving growth.

Bryan DeBoer, President and CEO of Lithia & Driveway, expressed gratitude for Chamberlain’s contributions to the company, emphasizing the positive impact on their business strategy and operations. DeBoer also noted that Chamberlain’s new appointment is the beginning of a new chapter in the company’s long-standing partnership with Mercedes-Benz.

Following Chamberlain’s departure, Lithia & Driveway’s Regional Presidents and Vice Presidents will report directly to DeBoer. The company expressed confidence in its team of operational leaders, citing their experience and leadership as key factors in maintaining the company’s momentum and strategic execution.

Lithia & Driveway prides itself on offering simple, convenient, and transparent experiences through its extensive network of physical locations and e-commerce platforms. The company’s diverse offerings range from vehicle sales to finance solutions and fleet management, aiming to modernize personal transportation solutions for consumers.

This leadership transition is based on a press release statement and reflects Lithia & Driveway’s ongoing commitment to growth and operational excellence within the automotive retail industry.

In other recent news, Lithia Motors Inc. reported impressive financial results for Q4 2024, with earnings surpassing analyst expectations. The company achieved an adjusted diluted EPS of $7.79, exceeding the projected $7.31, while revenue reached a record $9.2 billion, surpassing the anticipated $8.99 billion. This marks a significant 20% year-over-year increase in revenue, highlighting the company’s strong market position and operational efficiency. Lithia Motors also successfully achieved its $200 million annual cost savings target, further underscoring its strategic execution.

Additionally, Lithia Motors has set ambitious future targets, projecting $2 EPS per $1 billion in revenue and planning to acquire $2-4 billion in annual revenues. The company is also focusing on improving its used vehicle performance and addressing potential tariff impacts on vehicle inventory. Looking ahead, Lithia Motors aims to enhance customer loyalty through its diversified business model and is optimistic about its growth prospects in 2025 and beyond.

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