FORT LAUDERDALE, Fla., Aug. 27 /PRNewswire/ -- AutoNation, Inc. (NYSE: AN)
announced today that William E. Lobeck will step down as President of the
Company's Automotive Rental Group, effective immediately. The Company said
that the rental group, which includes National Car Rental, Alamo Rent-A-Car
and CarTemps USA, will report to AutoNation's Chief Financial Officer, Michael
S. Karsner, 41, until Lobeck's permanent successor is named.
The Company also said that a search for Lobeck's successor has begun.
AutoNation announced on August 2, 1999 that its Board of Directors has
approved a plan to separate the Automotive Rental Group from the Company's
automotive retail operations. The Company said today that it continues to
examine a range of strategic alternatives regarding the final form of
separation.
AutoNation, Inc. is the world's largest automotive retailer, with 412
automotive franchises and/or 42 AutoNation USA used vehicle megastores in 24
states. The Company also operates the world's largest virtual dealership with
more than 270 websites offering the largest selection of new and used vehicles
on the Internet.
SOURCE AutoNation, Inc.