Asbury Automotive Group Strengthens Board with Christopher DiSantis Appointment as Longtime Director Philip Maritz Prepares to Step Down
Asbury Automotive Group, Inc. (NYSE: ABG), Announces one of the largest and most diversified automotive retail and service organizations in the United States, has announced a significant leadership update at the board level, signaling both continuity and forward-looking governance as the company enters its next phase of growth. The company revealed that Christopher DiSantis will join its Board of Directors effective March 1, 2026, while long-serving board member Philip Maritz has informed the company that he will not stand for re-election at the 2026 Annual Meeting of Stockholders, concluding nearly a quarter-century of board service.
The appointment of DiSantis expands Asbury’s board to eleven directors, ten of whom are independent under New York Stock Exchange standards. DiSantis will also assume responsibilities on two of the board’s most critical committees—the Audit Committee and the Compensation & Human Resources Committee—roles that underscore the company’s confidence in his financial acumen, operational experience, and governance expertise.
A Strategic Addition to Asbury’s Board
Asbury’s Board Chair, Tom Reddin, described DiSantis as a value-driven leader whose experience aligns closely with the company’s long-term strategic objectives.
“We are thrilled to welcome Chris to the Board,” Reddin said. “He has demonstrated a consistent track record of creating value through both operational excellence and transformative growth strategies across multiple industries, including the automotive parts supply sector. We expect Chris to provide valuable strategic insights related to company planning and operations.”
DiSantis brings a deep background in scaling businesses, navigating complex operational environments, and executing transformation initiatives—capabilities that are increasingly critical as automotive retail evolves amid digital disruption, electrification, and shifting consumer expectations.
David Hult, Asbury’s President and Chief Executive Officer, emphasized the practical and execution-oriented dimension DiSantis adds to the board.
“Chris brings an added dimension,” Hult said. “His value-creation experience, demonstrated through repeated scaling, transformation, and performance improvement across complex operating environments, will make us a stronger organization.”
Extensive Leadership and Private Equity Experience
DiSantis is currently a Partner at American Securities, a leading U.S.-based private equity firm he joined in 2019. At American Securities, he serves on the firm’s Operating Committee and leads its Resources Group, a specialized team that works closely with portfolio company management teams to drive operational improvement, strategic execution, and long-term value creation.
In addition to his advisory responsibilities, DiSantis has taken on interim leadership roles at several American Securities portfolio companies, providing hands-on executive guidance during periods of transition and growth. His work has spanned strategy development, organizational transformation, cost optimization, and performance management—areas that align closely with board-level oversight responsibilities.
Before entering private equity, DiSantis built a distinguished career as a senior operating executive across manufacturing, industrial, and materials-based businesses. He served as Chief Executive Officer of Verso Corporation, a North American producer of paper, packaging, and pulp, where he led the company through operational restructuring and strategic repositioning.
Earlier in his career, DiSantis was CEO of H-D Advanced Manufacturing, a diversified motion-control technology enterprise serving aerospace and industrial markets. He also held the CEO role at Latrobe Specialty Metals, Inc., a manufacturer of premium alloys serving demanding industrial and aerospace applications. Additionally, he served as President of Hawk Corporation, a company specializing in the design, manufacture, and distribution of precision-engineered components.
This blend of private equity perspective and hands-on operational leadership gives DiSantis a broad view of capital allocation, performance metrics, and long-term value creation—attributes particularly relevant to Asbury as it balances organic growth, acquisitions, digital investments, and shareholder returns.
Board Refreshment Amid Industry Transformation
DiSantis’s appointment comes at a time when automotive retail is undergoing structural change. Dealers are navigating the transition to electric vehicles, the rise of connected and software-defined vehicles, evolving OEM sales models, and increasing customer expectations around digital retailing and service convenience. Governance expertise that combines financial rigor with operational insight is increasingly important as companies adapt to these shifts.
Asbury has positioned itself as a leader in modern automotive retail, emphasizing guest-centric operations, disciplined capital allocation, and scalable platforms across its dealership network. The addition of DiSantis reinforces the board’s commitment to maintaining strong oversight while supporting management’s long-term strategy.
Philip Maritz to Conclude Nearly 24 Years of Board Service
Alongside the announcement of DiSantis’s appointment, Asbury disclosed that Philip Maritz, one of its longest-serving directors, will step down from the board at the conclusion of his current term. Maritz was appointed to the board in April 2002, shortly after Asbury became a publicly traded company, and has played a central role in guiding the organization through more than two decades of growth and transformation.
Maritz is a co-founder and President of Maritz, Wolff & Co., which manages the Hotel Equity Fund, a private equity investment vehicle focused on luxury hotels and resorts. He is also the founder and President of Maritz Properties, a commercial real estate development and investment firm, and serves as Managing Director of Broadreach Capital Partners, a private equity real estate investment fund. In addition, Maritz is a member of the Council on Foreign Relations.
During his tenure at Asbury, Maritz held several key leadership roles on the board. He previously served as Chair of the Audit Committee, Chair of the Risk Management Committee, and Chair of the Governance & Nominating Committee. At the time of his departure, he remains an active member of the Capital Allocation & Risk Management Committee, the Governance & Nominating Committee, and the Executive Committee.
A Legacy of Growth and Governance
Under Maritz’s board leadership, Asbury evolved from a newly public company into a Fortune 500 enterprise generating approximately $18 billion in annual revenue. The company now operates more than 170 dealership locations across 15 states and has earned national and international recognition, including being named one of America’s Most Successful Small-Cap Companies by Forbes and one of the World’s Most Trustworthy Companies by Newsweek.
“Philip has been instrumental in helping to guide Asbury from its Initial Public Offering to an $18 billion revenue Fortune 500 company,” Hult said. “His insight, discipline, and governance leadership helped shape the company we are today.”
Reddin echoed those sentiments, highlighting Maritz’s unique contributions during pivotal moments in the company’s history.
“Over the course of his almost 24 years as a Board member, Philip provided a rare blend of leadership, strategic insight, and rigorous analytical inquiry,” Reddin said. “The Board and management team are deeply grateful for his many years of dedicated service and the lasting contributions he has made to Asbury’s success.”
About Asbury Automotive Group, Inc.
Asbury Automotive Group, a Fortune 500 company headquartered in Atlanta, Georgia, is one of the largest automotive retailers in the U.S. In late 2020, Asbury embarked on a multi-year plan to increase revenue and profitability strategically through organic operations, acquisitive growth and innovative technologies, with its guest-centric approach as Asbury’s constant North Star. As of December 31, 2025, Asbury operated 171 new vehicle dealerships, consisting of 223 franchises and representing 36 domestic and foreign brands of vehicles. Asbury also operates Total Care Auto, Powered by Asbury, a leading provider of service contracts and other vehicle protection products, and 39 collision repair centers. Asbury offers an extensive range of automotive products and services, including new and used vehicles; parts and service, which includes vehicle repair and maintenance services, replacement parts and collision repair services; and finance and insurance products, including arranging vehicle financing through third parties and aftermarket products, such as extended service contracts, guaranteed asset protection debt cancellation, and prepaid maintenance. Asbury is recognized as one of America’s Fastest Growing Companies 2024 by the Financial Times, one of the World’s Most Trustworthy Companies 2024 and 2025 by Newsweek, and one of America’s Most Successful Small-Cap Companies by Forbes for 2026.
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