On the Dash:
- Asbury CEO David Hult will become Executive Chairman; COO Dan Clara will take over as CEO in May 2026.
- Hult’s tenure produced a 273% increase in the stock price and substantial earnings growth.
- Clara brings 23 years of experience, leading operational strategy and key acquisitions.
Asbury Automotive Group announced Monday that President and CEO David Hult will transition to the role of executive chairman following the company’s 2026 Annual Meeting of Stockholders, expected in May. Chief Operating Officer Daniel E. “Dan” Clara will succeed Hult as president and CEO, completing the board’s long-term succession plan.
According to the company’s press release, Clara is also expected to be nominated to the Asbury Board, while Bridget Ryan-Berman will be named Lead Independent Director. Notably, Tom Reddin, current Non-Executive Chairman, will remain on the board after his term expires at the annual meeting, although additional details regarding board composition will be included in the company’s upcoming proxy statement, which will be filed with the SEC.
Hult, who has led Asbury through eight years of considerable growth, praised Clara as a “proven leader and operator” and expressed confidence in his ability to guide the company forward. During Hult’s tenure, Asbury’s stock price increased 273%, reflecting strong earnings growth and shareholder value creation.
“It has truly been an honor to serve as CEO of Asbury and I want to thank all of our team members for their unwavering commitment to delivering for our guests, partners, and shareholders,” Hult said in the release. “The fundamentals of our business are strong, and we are poised to maintain our momentum as we execute our focused growth strategy.”
Reddin echoed Hult’s comments, emphasizing Clara’s 23-year career at Asbury, which included key roles in operational excellence, large-scale acquisition integration, and advancing the company’s retail strategy.
Nevertheless, Clara expressed gratitude for the board’s trust and Hult’s mentorship, promising a smooth leadership transition. “We will work together to ensure a seamless transition, and I look forward to collaborating with him and our talented team to build on our momentum, deliver exceptional experiences to our guests, and create sustainable value for our shareholders,” Clara stated.
