Group 1 Automotive Elects John L. Adams to Board
10 November 1999
Group 1 Automotive Elects John L. Adams to BoardHOUSTON, Nov. 10 -- Group 1 Automotive, Inc. , a leading operator and consolidator in the automotive retailing industry, today announced John L. Adams has been elected to its board of directors. Adams is executive vice president of Trinity Industries, Inc., one of North America's largest manufacturers of transportation, construction and industrial products. Before joining Trinity in January 1999, he was chairman and chief executive officer of Chase Bank of Texas, National Association. During a 25-year career with Chase Texas and its predecessor, Texas Commerce Bank, Adams held various positions, most notably as president of the Houston bank, chairman and chief executive officer of the Dallas/Fort Worth Metroplex, and, most recently, chairman, president and chief executive officer of Chase Texas. Adams was also on the Advisory Board of the Houston Branch of the Federal Reserve Bank of Dallas. Adams, a resident of Dallas, is the chairman of the Southern Methodist University Tate Lecture Series and previously served as chairman of the Greater Dallas Chamber of Commerce. He serves as a member on the boards of directors of American Express International Bank, TU Electric Dallas (advisory), National Trustee for the Boys & Girls Clubs of America and the University of Texas M.D. Anderson Cancer Center. He has been actively involved in numerous civic organizations, cultural boards and fund-raising campaigns in both Dallas and Houston. Adams received his B.B.A. in finance from the University of Texas at Austin and earned his J.D. from the University of Texas Law School. "John brings us extensive financial and operations experience," said B.B. Hollingsworth Jr., Group 1's chairman, president and chief executive officer. "We expect his expertise in these areas will make a significant contribution to our continued growth." Group 1 also announced that Sterling B. McCall Jr., one of the company's founding dealers, has retired from the board of directors. McCall will continue to work with Group 1 as a consultant and was elected an advisory member of the board. "Sterling was a key driver behind the formation of Group 1, and we expect him to continue to be an outstanding ambassador to the dealership and manufacturer communities on our behalf," Hollingsworth said. "We thank him for his past efforts and are pleased that he will continue to give us his counsel." Group 1 is a leading operator and consolidator in the highly fragmented automotive retailing industry. Upon completion of the announced acquisitions, Group 1 will have an annualized revenue run rate of over $3 billion, and will own 104 dealership franchises comprised of 31 different brands, and 18 collision service centers located in Texas, Oklahoma, Florida, New Mexico, Colorado, Georgia, Louisiana and Massachusetts. Through its dealerships and Internet sites, the company sells new and used cars and light trucks, provides maintenance and repair services, sells replacement parts and arranges related financing, vehicle service and insurance contracts. For additional information regarding Group 1 Automotive free of charge via fax, dial 1-800-PRO-INFO and use the company's stock symbol, "GPI." Group 1 Automotive, Inc. can be reached on the Internet at http://www.group1auto.com .