Asbury Automotive Group, one of the largest automotive retail and service providers in the United States, has announced a significant leadership transition that marks the end of an era and the beginning of a new strategic phase for the company. Effective May 4, 2026, David Hult has officially stepped down from his role as Chief Executive Officer and assumed the position of Executive Chairman. The move reflects both a recognition of Hult’s transformative leadership over the past eight years and a deliberate effort to ensure continuity as the company advances into its next chapter.
The transition comes at a time when Asbury Automotive Group is widely regarded as one of the most dynamic and rapidly growing players in the automotive retail sector. Under Hult’s leadership, the company underwent a remarkable evolution, expanding its operational footprint, strengthening its financial performance, and embracing digital transformation initiatives that have reshaped the customer experience. His tenure is often described as the most significant growth period in the company’s history, with measurable gains across key financial and operational metrics.
According to Tom Reddin, Asbury’s Non-Executive Chairman, Hult’s impact on the organization has been both profound and far-reaching. During his time as CEO, the company more than doubled its revenue, achieved a threefold increase in share price, and nearly quadrupled its earnings per share. These achievements were not the result of incremental improvements but rather a combination of bold strategic decisions and disciplined execution. Reddin emphasized that Hult’s leadership transformed Asbury from a relatively smaller regional player into a company with national scale, operating across 14 states with a network of 158 dealerships.
A key pillar of this transformation was an aggressive yet calculated acquisition strategy. Under Hult’s direction, Asbury pursued a series of strategic acquisitions that not only expanded its geographic presence but also enhanced its portfolio of brands. These acquisitions delivered an aggregate net return on investment in the mid-teens, exceeding internal expectations and reinforcing the company’s reputation for disciplined capital allocation. By targeting high-growth markets and aligning with desirable automotive brands, Asbury positioned itself as a major force in the competitive U.S. automotive retail landscape.
Beyond financial growth and market expansion, Hult’s tenure was also defined by a strong commitment to innovation and technological advancement. Recognizing early on that the automotive retail industry was undergoing a digital transformation, he championed initiatives aimed at modernizing the customer journey. One of the most notable outcomes of this vision was the launch of Clicklane, a fully digital, end-to-end transactional platform that enables customers to complete the car-buying process online. This tool has become a cornerstone of Asbury’s digital strategy, offering convenience and transparency to consumers while improving operational efficiency for the company.
In addition to Clicklane, Hult has been a driving force behind the company’s adoption of advanced dealer management systems. Most recently, he supported the transition to Tekion, a cloud-based platform designed to streamline operations and enhance the retail experience. This transition represents a significant step toward reducing costs and improving scalability while enabling a more seamless and personalized interaction with customers. The move underscores Asbury’s commitment to leveraging technology as a competitive differentiator in an increasingly digital marketplace.
At the heart of Hult’s leadership philosophy has been a relentless focus on creating a guest-centric culture. His journey in the automotive industry began as a sales advisor, giving him firsthand insight into the importance of customer relationships. This perspective shaped his approach as CEO, where he consistently emphasized the importance of doing what is right for the customer. This guiding principle—often referred to within the company as its “North Star”—has been central to Asbury’s strategy and continues to influence its direction moving forward.
Reddin expressed deep appreciation for Hult’s contributions, noting that his vision, leadership, and work ethic have not only transformed the company but also generated substantial value for shareholders. The Board of Directors views his transition to Executive Chairman as an opportunity to retain his strategic insight and industry expertise while allowing new leadership to take on day-to-day operational responsibilities. In his new role, Hult is expected to remain actively involved in guiding the company’s long-term strategy and supporting its leadership team.
Taking over as CEO is Dan Clara, who has been closely associated with Asbury’s growth journey and is widely seen as a natural successor. Clara has expressed strong admiration for Hult’s leadership and the foundation he has built, describing it as instrumental in shaping the company’s current success. He highlighted Hult’s commitment to people and culture as key factors that have enabled Asbury to achieve sustained growth while maintaining a clear sense of purpose.
Clara’s vision for the future builds on this legacy, with a focus on operational excellence, team performance, and continued innovation. He has emphasized the importance of maintaining the company’s guest-centric approach while driving improvements across all aspects of the business. From dealership operations to corporate functions, Clara aims to ensure that Asbury remains agile, efficient, and responsive to the evolving needs of customers and the broader market.
The leadership transition also reflects a broader trend within the automotive retail industry, where companies are increasingly prioritizing digital capabilities, customer experience, and strategic scale. As consumer expectations continue to evolve, driven by advancements in technology and changing buying behaviors, companies like Asbury are adapting to remain competitive. The combination of Hult’s strategic oversight as Executive Chairman and Clara’s operational leadership as CEO positions the company to navigate these changes effectively.
Asbury’s growth story under Hult has been characterized by a willingness to take calculated risks and invest in the future. Whether through acquisitions, technology adoption, or cultural transformation, the company has consistently demonstrated an ability to anticipate industry trends and act decisively. This forward-looking approach is expected to continue under Clara’s leadership, supported by Hult’s ongoing involvement at the board level.
The transition also underscores the importance of succession planning in ensuring long-term stability and success. By promoting a leader who is deeply familiar with the company’s operations and values, Asbury is signaling its commitment to continuity while embracing new perspectives. Clara’s appointment reflects confidence in his ability to lead the organization through its next phase of growth and innovation.
Looking ahead, Asbury Automotive Group is well-positioned to build on its achievements and pursue new opportunities in the automotive retail space. The company’s expanded footprint, strong brand partnerships, and advanced digital capabilities provide a solid foundation for continued success. At the same time, its emphasis on customer-centricity and operational excellence ensures that it remains aligned with the needs of its stakeholders.
In many ways, the transition from Hult to Clara represents both an end and a beginning. It marks the conclusion of a transformative period defined by rapid growth and strategic evolution, while also setting the stage for a new era of leadership and innovation. With Hult continuing to provide guidance as Executive Chairman and Clara taking the helm as CEO, Asbury is poised to maintain its momentum and further strengthen its position as a leader in the automotive retail industry.
Ultimately, the company’s future will be shaped by its ability to balance tradition with innovation, leveraging its established strengths while embracing new opportunities. The leadership transition announced in May 2026 reflects a thoughtful and deliberate approach to achieving this balance, ensuring that Asbury Automotive Group remains at the forefront of an ever-changing industry landscape.
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. Asbury presently operates 158 new vehicle dealerships, consisting of 202 franchises and representing 34 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 37 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 for 2024 and 2025 by Newsweek, and one of America’s Most Successful Small-Cap Companies by Forbes for 2026.
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