Hendrick Automotive Group, the nation's seventh-largest dealership group, soon will have a former banker at the helm.
Hendrick has hired Edward Brown III, a retired Bank of America executive, as CFO. But Brown will replace Jim Huzl as president and CEO on Jan. 1, 2011. Huzl is retiring after 25 years at Hendrick.
Rick Hendrick, chairman of the dealership group, said Brown's financial management experience and community involvement will be an asset to the growing company.
Brown retired in 2004 after 32 years at Bank of America and banks it acquired -- North Carolina National Bank and NationsBank. When Brown left the bank, he was president of global corporate and investment banking services.
Huzl joined Hendrick in 1985 as executive vice president and CFO. He held several executive roles before being named president and CEO in 2005.
Hendrick Automotive Group, of Charlotte, N.C., reported revenues of $3.7 billion last year. It was the seventh-largest auto dealership group in the nation based on new retail sales of 52,305 vehicles in 2009.
The company employs more than 6,000 and operates 59 dealerships and 18 collision repair shops in 10 states.