General

Group 1 CEO Earl Hesterberg to retire at the end of the year

Group 1 CEO Earl Hesterberg to retire at the end of the year

Hesterberg joined Group 1 in April 2005 after a career with automakers including Ford Motor Co. and Nissan Motor Co.

Kenningham joined Group 1 in 2011, initially holding the role of regional vice president before taking on additional roles.

Kenningham said in the company’s statement: “I thank Earl for his outstanding leadership and the Board of Directors for their trust, guidance and support. We have an excellent team at Group 1, and I have a lot of energy working with them.” to chart our path forward for the benefit of our employees, customers, communities and stakeholders during this exciting and dynamic time in our industry.”

Group 1 shares fell 1.4 percent to $183.96 in early trading Wednesday.

Group 1 ranked No. 4 on the Automotive News most recent list of the 150 largest U.S. dealer groups with retail sales of 146,072 new vehicles in 2021.

This story is being updated.