- Push-out Score determined
- Accolades and praise for Jackson
- Mike Manley taking over
- Jackson said 68 words
(exechange) — Fort Lauderdale, Florida, September 21, 2021 — Mike Jackson, chief executive of AutoNation, leaves. As announced by AutoNation Inc. in a news release on Tuesday, September 21, 2021, Mike Jackson leaves his post as chief executive officer at the automotive retail giant, effective November 1, 2021.
Mike Jackson’s duties as CEO will be taken over by Mike Manley, currently Head of Americas at Stellantis.
The fact that Mike Jackson’s successor is brought in from outside suggests that the board may seek to stimulate change with fresh ideas and new initiatives.
No reason given
In the announcement, AutoNation did not explicitly explain the reason for the move.
Precise information regarding Mike Jackson’s future plans was not immediately available.
“Retire”
AutoNation said: “Mike Jackson will retire from AutoNation on November 1, 2021, as Chief Executive Officer and as a member of the Board of Directors.”
Share price increase since September 2020
The announcement follows an increase in AutoNation Inc.’s share price of 104% since September 2020.
In the position of CEO since 2020
Mike Jackson became CEO of the Company in 2020.
Mike Jackson has served as the Company’s Chief Executive Officer since April 2020 and as a director since September 1999.
He also served as the Company’s Chief Executive Officer from September 1999 until March 2019, as the Company’s Chairman of the Board from January 2003 until February 2021, as the Company’s President from February 2015 until January 2017 and from June 2017 until March 2019, and as the Company’s Executive Chairman from March 2019 until April 2020.
From October 1998 until September 1999, Jackson served as Chief Executive Officer of Mercedes-Benz USA, LLC, a North American operating unit of DaimlerChrysler AG, a multinational automotive manufacturing company.
From April 1997 until September 1999, Jackson also served as President of Mercedes-Benz USA.
From July 1990 until March 1997, Jackson served in various capacities at Mercedes-Benz USA, including as Executive Vice President immediately prior to his appointment as President of Mercedes-Benz USA.
Jackson was also the managing partner from March 1979 to July 1990 of Euro Motorcars of Bethesda, Maryland, a regional group that owned and operated 11 automotive dealership franchises, including Mercedes-Benz and other brands of automobiles.
From January 2014 until December 2018, he served as a member of the Board of Directors of the Federal Reserve Bank of Atlanta, after having previously served on the Board of Directors of the Federal Reserve Bank of Atlanta’s Miami Branch.
From January 2018 until December 2018, he served as Chair, and from January 2015 until December 2017 as Deputy Chair, of the Board of Directors of the Federal Reserve Bank of Atlanta.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Mike Jackson’s move 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 39.2021 ($).