Asbury Automotive Group Announces CEO Succession Plan, Marking a New Chapter of Strategic Leadership and Growth
Asbury Automotive Group, Inc. (NYSE: ABG), one of the largest and most respected automotive retail and service companies in the United States and a longstanding member of the Fortune 500, has unveiled a major leadership transition that will shape the company’s next era of growth and strategic direction. Following the Company’s 2026 Annual Meeting of Stockholders—expected to take place in May—current President and Chief Executive Officer David Hult will assume the newly defined role of Executive Chairman. At the same time, Daniel E. “Dan” Clara, who presently serves as Chief Operating Officer, will step into the role of President and CEO.
This planned shift in leadership marks the culmination of a multi-year succession strategy developed and overseen by Asbury’s Board of Directors. It underscores the company’s commitment to maintaining strong governance, continuity in leadership, and a forward-looking approach to a rapidly evolving automotive retail landscape. With this move, Asbury signals both stability and readiness to accelerate its long-term growth strategy.
A Thoughtful and Strategic Leadership Transition
As part of the transition, the Board of Directors also announced several governance updates that will become effective in connection with the 2026 Annual Meeting. The Board plans to nominate incoming CEO Dan Clara to join the Board of Directors, allowing him to play a more direct role in corporate governance and long-term strategic planning. Additionally, Bridget Ryan-Berman is expected to be appointed as Lead Independent Director, reinforcing the Board’s commitment to strong independent oversight.
Current Non-Executive Chairman Tom Reddin—who has served in the role beyond the typical term—will remain a member of the Board once his extended tenure as Chairman concludes at the upcoming Annual Meeting. Asbury confirmed that further information about Board composition, committee changes, and governance updates will be detailed in the Company’s proxy statement to be filed with the Securities and Exchange Commission later in the year.
These governance announcements further highlight Asbury’s emphasis on proactive planning and disciplined corporate oversight. They ensure that leadership roles support not only business growth but also the operational excellence and strategic clarity that have defined the company’s recent trajectory.
David Hult Reflects on His Tenure and Prepares to Guide the Next Chapter
David Hult, who has served as President and CEO since 2017, issued a heartfelt statement reflecting on his tenure and expressing confidence in both the company’s trajectory and the leadership of his successor.
“It has truly been an honor to serve as CEO of Asbury, and I want to thank all of our team members for their unwavering commitment to delivering for our guests, partners, and shareholders,” Hult said. “Over the past several years, we have expanded our footprint, invested in our people and technology, and stayed true to our guest-centric values.”
Under Hult’s leadership, Asbury Automotive Group achieved a new level of operational sophistication and financial performance. The company executed large-scale expansions, refined its business portfolio, deepened its digital retailing capabilities, and strengthened its brand reputation among consumers and OEM partners. These efforts contributed to notable improvements in revenue, profitability, and overall shareholder value.
Hult emphasized that this succession plan is the product of deliberate, long-range planning and thoughtful coordination with the Board. “The fundamentals of our business are strong, and we are poised to maintain our momentum as we execute our focused growth strategy,” he said.
He added that the timing for transition is ideal, enabling the next generation of leadership to guide Asbury into an increasingly competitive automotive market shaped by consolidation, digital transformation, and evolving consumer expectations.
“Dan is a proven leader and operator,” Hult said. “His drive, strategic mindset, and strong dedication to our values make him the logical choice to serve as Asbury’s next CEO. I have tremendous confidence in his ability to lead the Company to new heights.”
As Executive Chairman, Hult will remain actively involved, offering guidance and serving as a strategic advisor during the transition period and beyond.
Board Chairman Praises Hult’s Impact and Endorses Clara’s Leadership
Tom Reddin, Chairman of the Board, highlighted the transformative impact of Hult’s leadership and the soundness of the succession plan. “On behalf of the entire Board, we are deeply grateful to David for his outstanding leadership,” Reddin said.
During Hult’s tenure, Asbury pursued a disciplined approach to portfolio optimization, made strategic capital allocations, and reinforced a performance-oriented culture. These actions helped the company not only navigate but thrive through significant industry shifts—including the pandemic-era demand cycle, supply shortages, and the rapid integration of digital retailing models into dealership operations.
According to Reddin, the results speak for themselves: Asbury’s earnings and shareholder value more than tripled under Hult’s leadership, with the company’s stock price increasing approximately 273%. This performance, he noted, reflects the combined effect of strategic acquisitions, operational excellence, and robust leadership alignment.
Reddin then turned his focus to incoming CEO Dan Clara, offering strong praise for his experience and track record.
“Throughout Dan’s 23-year career at Asbury, he has proven himself to be a seasoned operator with a deep understanding of the business, a relentless work ethic, and a drive to win,” he said.
Clara has played a central role in several company-defining initiatives, including:
- Integration of major acquisitions that significantly expanded Asbury’s geographic footprint
- Advancement of the retail strategy, including digital transformation and enhanced operational efficiencies
- Strengthening of guest experience standards, contributing to lasting customer loyalty and sustainable revenue growth
- Partnership development with OEMs, a critical aspect of dealership business performance
“His knowledge of our industry and track record of successfully partnering with OEMs makes him uniquely qualified to lead Asbury in its next phase of strategic growth and value creation,” Reddin added.
Dan Clara Prepares to Take the Helm
In his first remarks as CEO-designate, Dan Clara expressed gratitude and enthusiasm for the road ahead. “I am deeply grateful to our Board of Directors for trusting me to lead Asbury,” he said.
Clara acknowledged the dedication of Asbury’s workforce—one of the company’s greatest assets—as well as the strong cultural foundation built under Hult’s leadership. “Our employees’ passion, resilience, and unwavering commitment to our North Star—to be the most guest-centric automotive retailer—continue to inspire me every day.”
He noted that Hult has positioned Asbury for long-term success through strategic investments, operational discipline, and a strong leadership pipeline. Clara emphasized his intention to build on that momentum, maintaining a focus on exceptional guest experiences, disciplined growth, and value creation.
“We will work together to ensure a seamless transition,” Clara said. “I look forward to collaborating with David and our talented team to build on our momentum, deliver exceptional experiences to our guests, and create sustainable value for our shareholders.”
A New Era for Asbury Automotive Group
The leadership transition at Asbury Automotive Group represents not just a change in titles, but a thoughtfully executed strategic milestone. It reflects years of preparation, a commitment to leadership continuity, and a long-standing culture of operational excellence.
With strong governance structures in place, a seasoned executive team, and a clear strategic vision, Asbury is well-positioned to advance its ambitions and strengthen its standing as one of the leading automotive retailers in the United States.
As the company prepares for its next chapter under the leadership of Dan Clara—with David Hult remaining closely involved in a pivotal strategic role—Asbury signals its readiness to meet the future with focus, confidence, and an unwavering commitment to delivering value for guests, partners, and shareholders alike.
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