After only four months of service, former AutoNation CEO Carl Liebert was replaced by Cheryl Miller on Monday, July 22nd. Miller has been with AutoNation for a decade and has served as its Chief Financial Officer since 2014. With her knowledge and expertise, AutoNation’s Board of Directors is confident that she will bring fresh and innovative insight to the position. To aid in this transition, Liebert will stay on for an additional 30 days.
In addition to Board approval, Cheryl Miller has also received a positive endorsement from AutoNation Executive Chairman, Mike Jackson. He said, “Her broader career, including at JM Family Enterprises and Alamo/National Car Rental brands, will bring outside, industry-leading, automotive experience to the role, as AutoNation continues to build its core business and Brand Extension strategy.”
This appointment also makes Miller the first female to hold the position of CEO for AutoNation, and the only female to be CEO of any publicly held automotive retail company. In her acceptance of this role, Miller has stated, “AutoNation is the industry leader, and we remain focused on our core business while looking to the future with our brand extension strategy and strategic alliances. I am proud to continue our great work and to support my 26,000 colleagues, who provide a peerless customer experience every day.”
Brand extension continues to be a top priority for AutoNation, and only time will tell if Cheryl Miller will be up to the challenge of continuing to build on this foundation.
AutoNation opened this morning on the New York Stock Exchange at $45.20, up $3.25 or 7.75 percent.