- Push-out Score determined
- After about a year in the position
- Praise, thanks and good wishes for Miller
- Mike Jackson taking over
- Miller kept it short and said 53 words
(exechange) — Fort Lauderdale, Florida, July 14, 2020 — Cheryl Miller, chief executive of AutoNation, leaves. As announced by AutoNation Inc. in a news release on Tuesday, July 14, 2020, Cheryl Miller has resigned from the automotive retailer, effective immediately.
No reason given
In the announcement, AutoNation did not explicitly explain the reason for Cheryl Miller’s move.
Precise information regarding Cheryl Miller’s future plans was not immediately available.
“Resigned”
AutoNation said: “Cheryl Miller has decided not to return from her leave of absence, and has resigned as of July 14, 2020. She has also resigned from the Board of Directors.”
AutoNation had said in a regulatory filing published on April 13, 2020: “On April 12, 2020, the Board of Directors (the “Board”) of AutoNation, Inc. (the “Company”) granted the request of Cheryl Miller, Chief Executive Officer and President of the Company, for a leave of absence for health reasons, and appointed Mike Jackson, Executive Chairman of the Board, to serve in the additional positions of Chief Executive Officer and President until Ms. Miller returns, in each case effective as of April 13, 2020.”
Share price decline
The announcement follows a decline in AutoNation Inc.’s share price of 15% since August 2019.
In the position of CEO since 2019
Cheryl Miller became CEO of the Company in 2019.
Cheryl Miller has served as the Company’s Chief Executive Officer and President, and as one of the Company’s directors, since July 2019.
Miller served as the Company’s Executive Vice President and Chief Financial Officer from March 2014 until July 2019.
She was appointed Interim Chief Financial Officer in January 2014, and she served as Treasurer, Vice President Investor Relations from April 2010 until March 2014.
Miller serves as a director, and as a member of the Audit Committee, of Tyson Foods, Inc.
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.
exechange reached out to AutoNation and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 29.2020 ($).