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Penske Automotive Taps Truck Veteran To Lead Commercial Vehicle Operations

BLOOMFIELD HILLS, Mich., Feb. 9, 2015 /PRNewswire/ -- Penske Automotive Group, Inc. (NYSE: PAG), an international transportation services company, announced today that it has renamed its U.S.-based commercial vehicle dealership business Penske Commercial Vehicles, US, and that Richard Shearing has joined the organization as its President.   

Mr. Shearing joins Penske Automotive from Daimler Trucks North America where he served as Vice President of National Accounts. Prior to that, he was General Manager of Component Sales and Director of Product Strategy. Shearing, 40, has extensive experience with Freightliner trucks, account management, strategy and a proven track record of building strong customer relations making him well-suited to lead the company's U.S. Commercial Vehicle Dealership operations.    

Penske Automotive Group Chairman Roger S. Penske said, "We are pleased to welcome Rich to the Penske Automotive Group team to help lead our Commercial Vehicle efforts in the United States. His depth of knowledge and experience will strengthen our team and provide a guiding hand as we continue to build scale in the Commercial Vehicle business in the United States.

Mr. Shearing will relocate to the Penske Commercial Vehicle headquarters in Dallas, Texas.

About Penske Automotive
Penske Automotive Group, Inc., (NYSE:PAG) headquartered in Bloomfield Hills, Michigan, is an international transportation services company that operates retail automotive and commercial vehicle truck dealerships principally in the United States and Western Europe, and distributes commercial vehicles, diesel engines, gas engines, power systems and related parts and services principally in Australia and New Zealand.  PAG employs more than 21,000 people worldwide and is a member of the Fortune 500 and Russell 2000. For additional information, visit the company's website at www.penskeautomotive.com.

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Inquiries should contact:

Contacts:

David K. Jones

Executive Vice President and

Chief Financial Officer

248-648-2800
dave.jones@penskeautomotive.com

Anthony R. Pordon
Executive Vice President – Investor Relations and Corporate Development
248-648-2540
tpordon@penskeautomotive.com

 

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SOURCE Penske Automotive Group, Inc.