Sonic Automotive, Inc. Adds Industry Leaders to Management Team
2 February 2000
Sonic Automotive, Inc. Adds Industry Leaders to Management TeamCHARLOTTE, N.C., Feb. 2 -- Sonic Automotive, Inc. announced today additions to its operations management team, completing development of its operations infrastructure. Three new geographic operating divisions have been created within Sonic Automotive which will be led by Division Vice Presidents. The Division Vice Presidents will report to Jeffrey C. Rachor, the Company's Executive Vice President of Retail Operations and will be responsible for all phases of dealership operations in their respective divisions. "Our new Division Vice Presidents will provide Sonic with demonstrated expertise in operating dealerships and achieving high standards of market penetration and customer satisfaction on behalf of automobile manufacturers," stated Jeffrey C. Rachor. The Western Division, comprised of California and Nevada, is led by Michael A. Lee. Mike was formerly Vice President of Sales, Retail Development and Strategic Planning at Southeast Toyota Distributors, a private distributor of Toyota automobiles and related products. Mr. Lee was instrumental in developing marketing and Internet strategies for Southeast Toyota. He will be responsible for unification of Sonic's business-to-consumer E-commerce programs and will be taking a lead role in developing consistent retailing and sub-branding strategies for Sonic. Mike has nearly 20 years experience in the automotive industry with experience in retail sales, service, parts and distribution. Rene Isip will lead Sonic's Central Division with operations in Texas and Oklahoma. Rene joined Sonic as Dealer Operator of Lute Riley Honda in Dallas, Texas. Lute Riley Honda is the second largest Honda dealership in the United States and the most profitable of Sonic's over 100 dealerships. Rene provides Sonic a proven retail operator with experience operating high volume, high profit dealerships. Lute Riley Honda is also a leader in Internet marketing processes with over 600 units sold and over $12 million in Internet-related revenue for 1999. Sonic's Eastern Division is the responsibility of B. Lee Crumpton, Jr., who has 22 years of experience in automotive retailing. The Eastern Division has operations in Alabama, Florida, Georgia, Maryland, North Carolina, Ohio, South Carolina, Tennessee and Virginia. Lee was previously operator of Gwinnett Honda in Atlanta, Georgia, a dealership owned by the Hendrick Automotive Group. Lee has extensive experience in improving sales and profitability at underperforming dealerships and has developed industry- leading sales management processes at Gwinnett Honda, the country's third largest Honda dealership. Mr. Crumpton is also an industry pioneer in Internet marketing with Internet marketing efforts initiated in 1995 at Gwinnett Honda. O. Bruton Smith, the Company's Chairman and Chief Executive Officer stated, "Sonic has the premier management team in the industry. Our team of proven, professional automotive retailers is second to none and is prepared to continue Sonic's impressive track record of improving dealership operating performance." Sonic Automotive, Inc. is the second largest automotive retailer in the United States, with operations in Alabama, California, Florida, Georgia, Maryland, Nevada, North Carolina, Ohio, South Carolina, Tennessee, Texas, and Virginia. Sonic currently operates 158 franchises and 29 collision repair centers. Included herein are forward-looking statements, including statements with respect to anticipated earnings growth. There are many factors which affect management's views about future events and trends of the Company's business. These factors involve risk and uncertainties that could cause actual results or trends to differ materially from management's view, including without limitation economic conditions, risks associated with acquisitions and the risk factors set forth from time to time in the Company's recent filings with the Securities and Exchange Commission. Contact: Theodore M. Wright, Chief Financial Officer of Sonic Automotive, Inc. (704) 532-3347. J. Todd Atenhan, Investor Relations of Sonic Automotive, Inc. (888) 766-4218. Val Holley-Dennis, Media Relations of Sonic Automotive, Inc. (704) 660-3424. Internet Address: http://www.sonicautomotive.com