William Berman resigns as president, CEO of AutoNation

William Berman, who was just named president of AutoNation in February, has resigned from the position, the nation’s largest automotive retailer announced Monday.

No reason was given for the resignation of Berman, 51, a 20-year AutoNation employee who has been chief operating officer since 2015. Prior to that, Berman led the company’s west coast region with more than 75 stores and more than $6 billion in revenue.

In a press release, Mike Jackson, chairman and CEO, thanked Berman for “his service and leadership” at AutoNation. “We wish Bill all the best in his future endeavors,” he said.

When asked for more details about Berman’s departure, AutoNation spokesman Marc Cannon said, “Mike’s quote speaks for itself. There is nothing to add as he is hard at work on the selection process.”

Jackson will assume the operating responsibilities while AutoNation searches for a new president and chief operating officer, the company said.

In April, AutoNation reported first-quarter earnings from continuing operations of $98 million, or 97 cents per share, which beat analysts’ estimates by 6 cents. But quarterly sales were flat at $96 million, or 90 cents per share, compared with a year ago.

Domestic vehicle sales fell the most, 21 percent in the quarter, followed by a decrease in imports by 6 percent and premium luxury by 3 percent, AutoNation said.

The Fort Lauderdalebased company owns and operates 372 new vehicle franchises across the country. But the retailer is moving to a new focus on usedcar sales, with plans to open new AutoNation USA stores and auto-repair shops. Last year, AutoNation rolled out a “one price” strategy for its vehicles.

AutoNation’s stock closed Monday at $40.54 per share, up $1.80 or 3 percent.