AutoNation hires McKinsey & Co. exec

New AutoNation Inc. CEO Mike Manley has made his first major hire, someone he said can help AutoNation on its growth path amid the changing auto retail industry.

Manley told analysts and investors last week that he recruited McKinsey & Co. executive Gianluca Camplone.

He's set to join the auto retail giant on March 1 as executive vice president of business development, strategy, personal mobility and COO of Precision Parts. AutoNation uses the Precision Parts brand on items such as batteries and wiper blades.

It's a new position for the retailer, and Camplone will report to Manley. He also will join AutoNation's executive committee.

"He spearheaded a global team of multiple billion-dollar mergers in the automotive sector," Manley said. "He's led a major dealer performance transformation at a leading North American commercial vehicle manufacturer. And in addition, very relevantly, he redesigned the multibillion-dollar, used-car business and multichannel environment for a global auto manufacturer."

AutoNation is in the midst of aggressively expanding its AutoNation USA used-vehicle store network from 10 locations to more than 130 by the end of 2026.

Camplone is a senior partner for McKinsey's global advanced industries sector, which includes automotive, aerospace and defense, and advanced electronics, according to his McKinsey biography. He also says in his LinkedIn profile that he leads McKinsey's private equity industrial practice in North America.

Last month, AutoNation, in a regulatory filing, said President and COO Jim Bender would retire effective March 4.

Camplone's hiring shows that "Manley intends to capitalize on opportunities in alternative mobility solutions in both retail and commercial segments," Rajat Gupta, an analyst with J.P. Morgan, said in a note to clients.

Manley said the future of auto retail includes more mobility models, changes in vehicle ownership and usage and even progressive "changes in how dealers and OEMs have traditionally competed."

"We have the opportunity not only to leverage our brand, our scale, our strong bricks-and-mortar footprint, but also to build on our growing digital capabilities and expand our business model to ensure we have greater autonomy and control in our future," Manley said.