AutoNation said on Friday that Carl Liebert will succeed longtime Chief Executive Officer Mike Jackson
Liebert is currently the chief operating officer at financial services company USAA and will take over his new job on March 11.
He has served as executive vice presidents at home improvement chain Home Depot where he was responsible for international sales, strategy, execution and operations.
Jackson said last September that will step down as CEO at the largest US car retail chain and will stay as executive chairman of the board until 2021
The company has more than tripled since Jackson became CEO in 1999 after the company founder Wayne Huizenga hired him from Mercedes-Benz USA, where Jackson was president
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AutoNation also reported 4.8 percent drop in fourth-quarter revenue on Friday, as the largest US AutoNation's net income from continuing operations fell to $ 92.9 million, or $ 1.02 per share. Revenue fell to $ 5.41 billion from $ 5.68 billion.