Asbury Automotive Group announced that President and Chief Executive Officer David Hult will transition to the role of Executive Chairman after the 2026 Annual Meeting of Stockholders, expected in May 2026. Chief Operating Officer Dan Clara will succeed Hult as President and CEO, marking a planned leadership transition that the board has described as part of a long‑term succession strategy.
Hult has led ABG for eight years, during which the company’s stock price climbed 273 % and the firm achieved record revenue growth. His tenure has been characterized by aggressive expansion, the deployment of the Tekion Dealer Management System across the network, and a focus on portfolio optimization that has positioned the company for continued value creation.
Clara, who joined ABG in 2002 and has spent 23 years in various operational roles, became COO in February 2025. His experience spans new‑vehicle sales, parts and service operations, and technology integration, giving him a deep understanding of the business’s core drivers and the ability to execute the growth plan set by Hult.
The succession comes as ABG pursues a $30 billion revenue target by 2030, leveraging technology to improve dealer performance and customer experience. The company’s recent Q3 2025 results—record revenue of $4.8 billion, adjusted EPS of $7.17 versus the consensus of $6.80, and net income of $147 million—illustrate the operational strength that the new CEO will inherit. The EPS beat was largely driven by disciplined cost management, a favorable mix shift toward higher‑margin parts and service, and the continued rollout of the Tekion platform, which has increased dealer efficiency and revenue per store.
Hult said, “I am grateful for the opportunity to continue to serve as Executive Chairman and to work closely with Dan to maintain the momentum we have built.” Clara added, “I am deeply grateful to the Board for trusting me to lead Asbury, and I look forward to building on the foundation laid by David while driving the next phase of growth.”
The transition is expected to preserve strategic continuity while injecting fresh operational focus. With Hult’s strategic oversight and Clara’s operational expertise, ABG aims to accelerate technology adoption, deepen dealer relationships, and sustain the growth trajectory that has driven its recent financial performance.
The announcement underscores ABG’s commitment to a structured succession plan, reinforcing investor confidence in the company’s governance and long‑term strategy.
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