- He will stay on as executive chairman as the board looks for a successor.
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AutoNation chief Mike Jackson is stepping down (AN)
AutoNation chief Mike Jackson will step down in 2019 after leading the US's largest dealership chain for nearly two decades.
Chief Executive Mike Jackson will step down from the role next year. Jackson will transition from his current role to executive chairman in 2019.
The company has announced that the board has hired executive search firm Spencer Stuart to find a successor, and will consider both internal and external candidates, a press release said.
In 1999, AutoNation hired Jackson to solidify the company's position in the automotive-retail sector and build its credibility on Wall Street. During his tenure, he also led and transformed its digital strategy. AutoNation
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"The Company is ready for its next chapter," Jackson said in the press release. "While the Board commences its succession process, we will remain focused on delivering a peerless customer experience and executing our Brand Extension and digital strategies."
AutoNation shares are down 15.8% this year.
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