Group 1 Automotive announces senior vice president’s retirement

HOUSTON – Group 1 Automotive Inc . (NYSE:GPI), a leader in automotive retail with a market capitalization of nearly $6 billion and an impressive 75% return over the past year, disclosed in a recent SEC filing that Michael D. Jones, the company’s Senior Vice President – Aftersales, will retire effective September 1, 2025. Following his official retirement date, Jones will continue to contribute to the company as a part-time employee until the end of the year.

Jones, who has played a significant role in Group 1 Automotive’s operations, will receive his regular salary until the transition date and is eligible for a prorated annual bonus as part of the company’s Annual Incentive Plan. His retirement benefits will also include the continued vesting of his outstanding restricted stock awards, as per the "Qualified Retirement" provisions in the equity award agreements.

The terms of Jones’s continued vesting require adherence to confidentiality, non-competition, and non-solicitation clauses as outlined in the agreements. This information, based on the company’s 8-K filing with the SEC, provides investors with insight into the company’s executive movements and compensation arrangements.

Group 1 Automotive, headquartered in Houston, Texas, operates in the automotive retail industry and is incorporated in Delaware. The company’s fiscal year ends on December 31, and it is publicly traded on the New York Stock Exchange. InvestingPro analysis indicates the company maintains a "GOOD" financial health score and is a prominent player in the Specialty Retail industry. Investors seeking detailed insights can access comprehensive financial metrics and 10+ additional ProTips through InvestingPro’s detailed research reports.

The news of Jones’s retirement comes directly from the company’s filing and reflects the ongoing changes within Group 1 Automotive’s executive team. The company has not yet announced a successor for the Senior Vice President – Aftersales position. With the company’s strong revenue growth of 11.5% in the last twelve months, the incoming executive will inherit a robust operation.

In other recent news, Group 1 Automotive reported its fourth-quarter 2024 earnings, surpassing Wall Street expectations with an adjusted diluted EPS of $10.02, compared to the forecast of $9.09. The company also exceeded revenue projections, posting $5.5 billion against the anticipated $5.2 billion. Group 1 Automotive achieved record results across several business lines, contributing to a full-year revenue of $19.9 billion. The company’s strategic acquisitions and operational improvements were highlighted, particularly the successful integration of the Inchcape (OTC:INCPY) acquisition in the UK. Despite the positive financial results, the company’s stock experienced a minor decline. Group 1 Automotive continues to invest in technician retention and productivity, aiming to address margin pressures in the EV fleet sales segment. CEO Daryl Kenningham expressed optimism about future growth prospects, especially in the UK market.

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