- Push-out Score determined
- After less than five months in the position
- Praise, thanks and good wishes for Liebert
- Cheryl Miller taking over
- Liebert kept it short and said 6 words
(exechange) — Fort Lauderdale, Florida, July 22, 2019 — Carl Liebert, chief executive of AutoNation, leaves — as “mutually agreed.” As announced by AutoNation Inc. in a news release and in a regulatory filing published on Monday, July 22, 2019, Carl C. Liebert leaves his post as Chief Executive Officer at the largest U.S. auto dealership chain after less than five months in the role, effective immediately.
Among the 3,000 largest publicly held companies incorporated in the U.S. based on market capitalization, the average tenure of the CEOs who departed over the past 12 months was 7.6 years, according to data compiled by exechange. Only 4 percent of the CEOs who departed over the past 12 months left their position within their first year. Around 12 percent left their position within two years, and 22 percent left their position within three years.
Carl Liebert’s duties as CEO will be taken over by Cheryl Miller, most recently Chief Financial Officer of AutoNation, Inc.
The Company also announced that Christopher Cade, Senior Vice President and Chief Accounting Officer, has been appointed interim Chief Financial Officer while the Company conducts a search for a new Chief Financial Officer. AutoNation will be considering both internal and external candidates.
Carl Liebert’s move is part of a management shake-up also involving the position of Chief Operating Officer.
“To pursue other interests”
The management change is explained as follows. AutoNation said: “Carl and the Board of Directors of AutoNation mutually agreed that he would leave to pursue other interests.”
Precise information regarding Carl Liebert’s future plans was not immediately available.
“Replacing”
AutoNation said: “Cheryl Miller, AutoNation’s Chief Financial Officer, has been appointed Chief Executive Officer and President, effective today, July 22, 2019, replacing Carl Liebert.”
AutoNation further said: “Carl C. Liebert III had mutually agreed with the Board to leave his role as Chief Executive Officer and President of the Company, effective immediately, to pursue other interests.”
Share price decline
The announcement follows a decline in AutoNation, Inc.’s share price of 34% since November 2015.
Chaired by Mike Jackson
AutoNation, Inc. is chaired by Mike Jackson.
Mike Jackson has served as the Company’s Chief Executive Officer and Director since September 1999, as the Company’s Chairman of the Board since January 2003, and as the Company’s President since June 2017.
In the position of CEO since 2019
Carl Liebert became CEO of the Company in March 2019.
Carl Liebert will remain with the Company for the next 30 days to assist with the transition.
On July 23, 2019, Liebert resigned from the Board, effective immediately.
Carl C. Liebert III has been appointed as the Company’s Chief Executive Officer and President, and as a member of the Company’s Board, effective as of March 11, 2019.
From August 2014 until February 2019, Liebert served as the Executive Vice President and Chief Operating Officer of United Services Automobile Association (“USAA”), a Fortune 100 financial services company with over 12.8 million members, where he was responsible for USAA’s business operations functions, including USAA’s Bank, Investment, Life, Property and Casualty, Real Estate Investment Companies, and member contact functions.
His responsibilities included delivering an integrated digital experience through USAA’s website, tablet, mobile devices, voice, and emerging channels.
He joined USAA in May 2013 as President, USAA Capital Corporation. Prior to joining USAA, Liebert served as the President and Chief Executive Officer of 24-Hour Fitness, overseeing the operations of 415 fitness clubs across the United States and Asia.
Liebert also served as an Executive Vice President for The Home Depot, where he oversaw the sales, strategy, execution, future supply chain, global sourcing strategy, and operations across more than 2,000 international stores, and 250,000 employees.
Liebert also held leadership roles with General Electric and Circuit City.
Liebert is a former U.S. Navy Officer.
He graduated from the United States Naval Academy with a Bachelor of Science in Physical Science, and he obtained his MBA from Vanderbilt University, Owen Graduate School of Management.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding the management change on a scale of 0 to 10.
Read the full story in the exechange report 30.2019 ($).