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|UnitedAuto Board Announces Executive Appointments; Michael A. Duff Named Executive Vice President - General Counsel and Assistant Secretary; Paul F. Walters Named Executive Vice President - Human Resources; Phillip M. Hartz Named Senior Vice President - D|
|DETROIT, MI, AUGUST 6, 1999 - UnitedAuto Group, Inc. (NYSE: UAG), the nation's second largest publicly traded automotive retailer, today announced three executive appointments.|
Michael A. Duff, Esq., has been named as Executive Vice President, General Counsel and Assistant Secretary. Mr. Duff will be responsible for all corporate legal activities, while further serving as a member of the Company's leadership team.
Most recently, Mr. Duff was Assistant General Counsel for Penske Truck Leasing, a unit of Penske Corp., a position that he held since early 1997. Duff, 38, joined Penske Truck Leasing in 1991 as Senior Counsel. In his positions at Penske Truck Leasing, Duff was responsible for domestic and international acquisitions, third party financings, real estate transactions and general contract matters.
Mr. Duff received a J.D. from the University of Baltimore School of Law in 1985 and a B.A. from The John Hopkins University in 1982. Duff is a member of the Pennsylvania and Maryland Bars.
Paul F. Walters has been named as Executive Vice President, Human Resources, a new position. Mr. Walters will be responsible for Human Resource and Training activities while further serving as a member of the leadership team of the Company.
Mr. Walters continues as Executive Vice President, Administration, for Penske Corporation. Prior to joining Penske Corporation as its Head of Human Resources in 1988, Walters, 55, spent 26 years with General Motors Corporation in various human resource positions. Walters received his Industrial Engineering Degree from Kettering University in 1966.
Phillip M. Hartz has been named as Senior Vice President, Corporate Communications and Manufacturer Relations. In addition to continuing his current responsibilities working with the Company's OEM partners, Mr. Hartz will direct the Corporate Communications and Investor Relations activities for the Company.
Most recently, Mr. Hartz was Vice President, Manufacturer Relations and Field Operations for the Company. Prior to joining UnitedAuto, Hartz, 41, spent 3 years with Ford Motor Company and 15 years with General Motors Corporation in marketing and field sales and services operations. Mr. Hartz was awarded the General Motors Fellowship and attended the Columbia Business School at Columbia University where he earned his Masters of Business Administration in 1995; Hartz received a B.S. from Boston University in 1980.
Commenting on the announcements, Roger Penske, Chairman said, "We are pleased to add Mike and Paul to our team. Both executives come from successful backgrounds within the Penske organization and are well versed in automotive as well as transportation and related services. Phil's OEM background and training makes him ideally suited to communicate the progress of the Company as we go forward. Working with Bernie Wolfe, Senior Vice President of Manufacturer Relations for Toyota and Lexus, Phil's continued involvement in this area will provide broad support for our plan to continue to build UnitedAuto's relationships with its manufacturer partners.''
UnitedAuto, which has pursued a strategy based on internal growth from its existing dealerships as well as from strategic acquisitions, operates 103 franchises in 16 states and Puerto Rico. UnitedAuto dealerships sell new and used vehicles and market a complete line of aftermarket automotive products and services.
This press release contains forward-looking information, and actual results may materially vary from those expressed or implied herein. Factors, including economic conditions, manufacturer approvals and acquisition risks that could affect these results are described in reports and documents filed by the Company with the Securities and Exchange Commission.