BLOOMFIELD HILLS, Mich., May 09, 2011 (BUSINESS WIRE) --
Automotive Group, Inc. (NYSE: PAG), an international automotive
retailer, today announced that David K. Jones, the Company's Vice
President and CFO of its European operations, has been named Executive
Vice President and Chief Financial Officer, effective immediately. Mr.
Jones replaces Robert O'Shaughnessy, who has resigned from his role as
Executive Vice President and Chief Financial Officer to accept a similar
position with another company.
Chairman Roger Penske commented, "Bob has led our finance team and
helped develop a culture that has served us well during our substantial
growth, as well as during the recent economic uncertainties. He has been
a valuable member of our management team and the foundation he helped
establish will continue to serve us in the future. We wish him great
success in his new role."
Mr. Jones joined Penske Automotive in 2003. He has served in a number of
leadership roles in the finance function, including the most recent role
as CFO of the Company's European operations. In his new role, Mr. Jones
will report to Roger Penske and will be responsible for all aspects of
the Company's financial operations. Commenting on the appointment,
Penske said, "Dave has a strong operational and technical finance and
accounting background. Dave's experience and knowledge will help us
maintain the integrity and discipline of our financial operations and
will provide a solid foundation for success as he takes on this new
About Penske Automotive
Automotive Group, Inc., headquartered in Bloomfield Hills, Michigan,
operates 326 retail automotive franchises, representing 39 different
brands and 26 collision repair centers. Penske Automotive, which sells
new and previously owned vehicles, finance and insurance products and
replacement parts, and offers maintenance and repair services on all
brands it represents, has 172 franchises in 17 states and Puerto Rico
and 154 franchises located outside the United States, primarily in the United
Kingdom. Penske Automotive is a member of the Fortune 500 and
Russell 1000 and has approximately 14,500 employees.
SOURCE: Penske Automotive Group, Inc.
Penske Automotive Group, Inc.
Anthony R. Pordon
Executive Vice President