– USA, TX – Group 1 Automotive, Inc. (NYSE: GPI), an international, Fortune 500 automotive retailer, today announced that its board of directors appointed Doyle L. Arnold as a Class I Director, effective immediately. He will fill the vacancy created by the resignation of Beryl Raff, Chief Executive Officer of Helzberg Diamonds, who has served on the Group 1 Board of Directors since 2007. Ms. Raff resigned from Group 1’s Board to avoid potential conflicts due to the recently announced acquisition of a large auto group by her employer, Berkshire Hathaway, Inc., the parent company of Helzberg Diamonds. Mr. Arnold will become a Class I Director and will stand for election by Group 1’s shareholders at the Company’s 2015 Annual Meeting.
Mr. Arnold has served as the Vice Chairman and Chief Financial Officer of Zions Bancorporation in Salt Lake City, Utah since 2005. Prior to joining Zions Bancorporation, Mr. Arnold held a variety of increasingly responsible positions in the banking field, including positions with the U.S. Treasury Department, Wells Fargo & Company and BankAmerica Corporation. He obtained his Bachelor of Arts degree from Rice University in Houston, Texas and his Master of Business Administration degree from Stanford University in Palo Alto, California. Mr. Arnold currently serves on the Rice University Board of Trustees.
Mr. Arnold will serve on both the Audit and Nominating/Governance Committees of the Group 1 Board. John Adams, Group 1’s Chairman of the Board commented, “Doyle brings a wealth of large corporation and financing industry experience to our Board. This will be extremely valuable as we strive to continue to further grow our automotive retail business in the future.”
About Group 1 Automotive, Inc.
Group 1 owns and operates 150 automotive dealerships, 195 franchises, and 38 collision centers in the United States, the United Kingdom and Brazil that offer 32 brands of automobiles. Through its dealerships, the Company sells new and used cars and light trucks; arranges related vehicle financing; sells service and insurance contracts; provides automotive maintenance and repair services; and sells vehicle parts.
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