Editor's note: Stephen Quinn is 62. His age was incorrect in the original version of this story.
Group 1 Automotive Inc. named Stephen Quinn, 62, nonexecutive chairman, replacing John Adams, who had held the post for 12 years, the dealership group said Friday.
Quinn has been on Group 1's board since May 2002. He is also on the audit and risk oversight committees of the bank holding company Zions Bancorporation.
"John's insight and experience with capital allocation has been integral to the company for the past 18 years," Group 1 CEO Earl Hesterberg said in a release. "We now welcome Steve to the role of non-executive chairman and believe his extensive background in corporate finance and tremendous experience in assessing business strategies and risks, make him a great asset as the new chairman."
Adams will continue as a director and will now be chairman of Group 1's finance/risk management committee.
Group 1 Automotive, of Houston, ranks No. 3 on Automotive News' list of the top 150 dealership groups based in the U.S., with retail sales of 172,053 new vehicles in 2016.
The dealership group owns and operates 159 automotive dealerships, 210 franchises, and 45 collision centers in the U.S., the U.K. and Brazil that offer 30 brands of automobiles.
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