Longtime AutoNation Inc. CEO Mike Jackson may finally have his retirement date.
More than two and a half years after AutoNation's board of directors thought it had found its replacement for Jackson only to later recall the auto retail veteran to that role, the nation's largest dealership group has landed a top auto industry executive as its next CEO.
AutoNation on Tuesday said it had hired former Fiat Chrysler Automobiles CEO Mike Manley to replace Jackson as CEO effective Nov. 1. Manley, who has auto retail experience, is currently head of Americas for Stellantis — the company formed when PSA and FCA merged in January.
Jackson, 72, who has been CEO of AutoNation for most of the past 22 years, will also retire from AutoNation's board of directors.
The hiring of Manley, 57, marks a new era at AutoNation, which will have its fourth CEO since February 2019. The dealership group, with $20 billion in annual revenue and 228 dealerships, is in the midst of a large-scale expansion of its AutoNation USA used-vehicle-only stores and is working to grow digital sales but faces challenges as the auto industry embarks on a shift to electric vehicles.