AutoNation President Jim Bender set to retire in March

AutoNation Inc.'s president and COO Jim Bender will retire effective March 4, the auto retail giant said late Wednesday in a regulatory filing.

Bender notified the company on Tuesday that he plans to retire from the auto retailer, according to the filing, and CEO Mike Manley will take over Bender's responsibilities until a successor is named.

Those responsibilities include overseeing new- and used-vehicle sales, finance and insurance, service, manufacturer relations and corporate development, which Bender added in September 2020, according to his executive profile.

Bender, a longtime AutoNation executive, has been COO since July 2019 and added the president title in April 2020.

Manley, hired to fill the CEO job long held by Mike Jackson, joined AutoNation on Nov. 1 after a long executive career with Stellantis and predecessor Fiat Chrysler Automobiles.

Rick Nelson, an analyst from Stephens Inc., in a note to investors Wednesday, said Bender is 66 and had been with AutoNation since 2000.

"We are not surprised to see changes in the executive ranks following the new CEO appointment in November 2021 and given Bender's retirement age," Nelson wrote. "We do not believe this move signals any major changes to the company's strategy."

AutoNation Inc., of Fort Lauderdale, Fla., ranks No. 1 on Automotive News' most recent list of the top 150 dealership groups based in the U.S., retailing 249,654 new vehicles in 2020.