AutoNation picks former Gulf States Toyota leader as new COO
Jeff Parent starts with an annual base salary of $800,000, a one-time payment of $1.5 million and various stock compensation.
Workers at 38 GM, Stellantis parts depots join UAW strike, but Ford makes progress
The UAW added 5,600 workers at GM and Stellantis parts depots to its escalating strike, threatening dealerships’ service business, but said it had made ‘real progress’ in talks with Ford.
Penske bids throw wrench into Lithia deal for Pendragon
Lithia’s potentially transformative deal for Pendragon would significantly grow the auto retailer’s U.K. footprint, add a sizable fleet business and give the company a pathway to a dealership management system. But Lithia has competition for the deal after Penske and another firm submitted multiple joint offers for Pendragon.
New CEO’s experience bodes well for Red Lobster, experts say
Red Lobster’s new CEO will bring about two decades of experience with the chain and its former parent company as the Orlando-based seafood restaurant looks to continue its recent rising tide.
Horace Dawson, revealed as CEO Thursday, takes on a role that has been empty for nearly a year and a half. Red Lobster’s previous CEO resigned last April after just eight months on the job.
He takes the helm of the chain of about 700 restaurants at the same time a key shareholder has reported improvements in its finances this year.
Dawson has been executive vice president and general counsel of Red Lobster since 2014, the same time Orlando-based Darden Restaurants sold the chain.
Dawson spent 11 years with Darden and was vice president and division general counsel there before taking on his role with Red Lobster after that sale.
Coming from the legal side of the business is a good thing because general counsels are involved in most aspects of the company, from financial deals to human resources problems, said San Diego-based restaurant analyst John Gordon.
Carmakers will not immediately comply with Massachusetts data repair law
The Alliance for Automotive Innovation said Friday that because a compliance option is not immediately available that they would abide by NHTSA’s earlier guidance in June.