HOUSTON--Group 1 Automotive recently appointed Robert Ray and Joseph Herman to senior management positions.

Effective May 17, Ray will be the company's senior vice president, chief financial officer and treasurer. He will handle the dealer group's finance, investor relations and corporate administrative functions. Ray's most recent post was at Dynegy Inc., an energy company, where he held senior positions in finance and corporate development.

Herman will be Group 1's senior vice president, operations, starting May 3. He will oversee the company's operations and coordinate dealership activities. He previously served as president and chief operating officer of Planet Automotive, a private dealership group.

Group 1 reported Thursday that earnings fell to $10.5 million this quarter from $14.8 million last quarter, according to Reuters. The company said earnings fell because of a charge for the redemption of debt.

Group 1 owns 82 dealerships throughout the United States and ranked fifth in Automotive News' 2003 Top 100 Dealership Groups listing.

0 Comments