Asbury Automotive Group, Inc. (NYSE: ABG) (the “Company”), a Fortune 500 automotive retail and service company, today announced that effective following the Company’s 2026 Annual Meeting of Stockholders expected to be held in May, David Hult, President and Chief Executive Officer of Asbury, will transition to the role of Executive Chairman. The Asbury Board of Directors has elected Daniel E. “Dan” Clara, currently Chief Operating Officer, to succeed Mr. Hult as President and Chief Executive Officer. This transition marks the culmination of the Board’s long-term leadership succession plan to support the continued growth and success of the Company.

The Company also announced that in connection with the 2026 Annual Meeting, the Board expects to nominate Mr. Clara to the Asbury Board, and to name Bridget Ryan-Berman as Lead Independent Director. Tom Reddin, whose extended term as Non-Executive Chairman is set to expire at the Annual Meeting, is expected to remain on the Board. Additional details regarding Board composition will be included in the Company’s proxy statement to be filed with the SEC.

David Hult said, “It has truly been an honor to serve as CEO of Asbury and I want to thank all of our team members for their unwavering commitment to delivering for our guests, partners, and shareholders. Over the past several years, we have expanded our footprint, invested in our people and technology, and stayed true to our guest centric values. The fundamentals of our business are strong, and we are poised to maintain our momentum as we execute our focused growth strategy. After careful consideration, the Board and I are confident that now is the right time to launch this succession plan and transition Asbury to its next generation of leadership. Dan is a proven leader and operator. His drive, strategic mindset, and strong dedication to our values make him the logical choice to serve as Asbury’s next CEO. I have tremendous confidence in his ability to lead the Company to new heights and look forward to working closely with him during the transition period and as Executive Chairman.”

Tom Reddin, Chairman of the Board, said, “On behalf of the entire Board, we are deeply grateful to David for his outstanding leadership. As CEO, David has led Asbury through a period of unprecedented growth and value creation by executing a disciplined approach to portfolio optimization, strategic deployment of capital, and instilling a strong performance-based culture. As a result, David has more than tripled earnings and shareholder value, with the Company’s stock price increasing 273%¹ during his tenure. This transition reflects Asbury’s thoughtful, multi-year succession planning process, and we appreciate David’s close coordination with the Board that has resulted in today’s announcement. We look forward to benefitting from his continued service as Executive Chairman.”

Mr. Reddin continued, “Throughout Dan’s 23-year career at Asbury, he has proven himself to be a seasoned operator with a deep understanding of the business, a relentless work ethic, and a drive to win. Dan has played a key role in the successful integration of large-scale acquisitions, advancing our proven retail strategy, and enabling industry-leading guest experiences that have helped to drive our sustainable revenue growth and profitable returns. In addition, his knowledge of our industry, and track record of successfully partnering with OEMs makes him uniquely qualified to lead Asbury in its next phase of strategic growth and value creation.”

Dan Clara said, “I am deeply grateful to our Board of Directors for trusting me to lead Asbury. I also want to thank our dedicated employees whose passion, resilience, and unwavering commitment to our North Star—to be the most guest-centric automotive retailer—continue to inspire me every day. David’s leadership has positioned Asbury for sustained success, and I am thankful for his mentorship and the solid foundation he has built. We will work together to ensure a seamless transition and I look forward to collaborating with him and our talented team to build on our momentum, deliver exceptional experiences to our guests, and create sustainable value for our shareholders.”