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Used-vehicle public sale companies firm America’s Group stated Thursday that its CEO, Cam Hitchcock, will retire Dec. 31.
Hitchcock might be changed by Chuck Tapp, the corporate’s chief income officer and govt vp, in response to a information launch.
The chief transition comes roughly one 12 months after public sale firm XLerate Group accomplished its acquisition of America’s Auto Public sale. The mixed entity rebranded underneath the title America’s Group in 2022. As a big 19-state participant, it goals to nab extra market share within the shifting wholesale public sale house and overtake opponents in annual car gross sales, Hitchcock and Tapp beforehand informed Automotive Information.
“This can be a powerful resolution for me because the relationships we have developed through the years are essential to me, and the thrill of mixing XLerate Group and America’s Auto Public sale nearly a 12 months in the past reworked and united each corporations and adjusted business dynamics,” Hitchcock stated in an announcement.
Hitchcock made “vital contributions” to the corporate’s improvement and development, together with the mixing of America’s Auto Public sale and XLerate Group within the final 12 months, stated Gary Hokkanen, a associate at Brightstar Capital Companions, the New York-based non-public fairness agency that’s the controlling shareholder of the mixed entity.
In an announcement, Tapp stated he’s “thrilled to take the reins” of the corporate.
“I consider that this difficult time in our business may also deliver nice alternatives, and the women and men of AAA are poised to capitalize on these alternatives and leverage each our digital and bodily public sale websites to redefine the remarketing business,” he stated.
Hitchcock has been CEO and a board member of America’s Auto Public sale since 2014.
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