Asbury Automotive Group, Inc. Announces Appointment of Michael Welch as Chief Financial Officer

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DULUTH, Georgia – (COMMERCIAL THREAD) – Asbury Automotive Group, Inc. (NYSE: ABG) (“Asbury” or the “Company”), one of the largest retail and automotive service companies in the United States, announced today that Michael Welch will join the Company as Director Vice President and Chief Financial Officer effective August 9, 2021.

“Michael has spent over 20 years working in the automotive retail industry, so he brings with him a deep understanding of automotive retailing as well as extensive experience in financial management, treasury, accounting and auditing. which will prove invaluable as we continue to execute on our five year growth plan. I am very pleased that Michael is joining the Asbury team, “said David Hult, President and CEO.

Mr. Welch joins the company from Group 1 Automotive, Inc., a Fortune 500 auto retailer listed on the NYSE with auto dealerships and collision centers in the United States, United Kingdom and Brazil, where he was vice -President and Corporate Controller since June 2019. From June 2000 to June 2019, Mr. Welch held various other positions of increasing responsibility at GPI, where he gained extensive experience in treasury, financial reporting, planning and analysis financial and internal audit. Mr. Welch began his career with Price Waterhouse. Mr. Welch holds a Bachelor of Business Administration degree from Oklahoma Baptist University and is a Chartered Accountant (CPA) in the State of Texas.

About Asbury Automotive Group, Inc.

Asbury Automotive Group, Inc. (“Asbury”), a Fortune 500 company headquartered in Duluth, GA, is one of the largest automotive retailers in the United States. Asbury currently operates 91 dealerships, comprising 112 franchises, representing 31 domestic and foreign brands of Vehicles. Asbury also operates 25 collision repair centers. Asbury offers its customers a wide range of automotive products and services, including the sale of new and used vehicles and associated financing and insurance, vehicle maintenance and repair services, spare parts and service contracts.


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