BLOOMFIELD HILLS, Mich. — Penske Automotive Group Inc. has announced that J.D. Carlson, the company's senior vice president and corporate controller, has been named executive vice president and CFO, effective immediately.

Carlson replaces David K. Jones, who has resigned from his role as executive vice president and chief financial officer to accept a similar position with another company. Jones will remain with the company through June 30, 2015, in an advisory capacity.

Carlson joined Penske Automotive in 2006 as vice president and corporate controller. In May 2011, he was promoted to senior vice president and corporate controller and was named Penske’s principal accounting officer. Carlson has a strong operational and technical background in finance and accounting and will be responsible for all aspects of the company's financial operations. 

Penske also announced the promotion of Shelley Hulgrave from corporate accounting manager, a position she has held since October 2006, to corporate controller. Since joining the company in 2006, Hulgrave has taken on increasing roles and responsibilities, including coordination with the company's accounting teams in the United States, Europe and Australia, which positions her well for success in her new role. Previously, Hulgrave's work experience included five years with the accounting firm of Ernst & Young where she served as an audit manager.