CHARLOTTE, N.C., Feb. 1 /PRNewswire-FirstCall/ -- Sonic Automotive, Inc.
(NYSE: SAH), a leading automotive retailer, today announced that Mr. David P.
Cosper has agreed to join the Company in March 2006 in the position of
Executive Vice President, Chief Financial Officer and Treasurer. Prior to
choosing to join Sonic, Mr. Cosper was most recently employed as Vice Chairman
and Chief Financial Officer of Ford Motor Credit Company.
Commenting on the hiring of Mr. Cosper, Sonic's President and Chief
Operating Officer Jeffrey C. Rachor said, "We are delighted that Dave Cosper
has chosen to join Sonic Automotive. Dave has an outstanding track record of
success at Ford, working closely with both the investment community and the
dealership community. We believe that Dave's operational, financial
management and capital markets expertise, combined with his extensive
knowledge of the retail automotive business, make him a perfect fit for Sonic
Automotive."
In his new role with Sonic, Mr. Cosper will have oversight responsibility
for all financial functions of the company, as well as playing a key
leadership role in the company's execution of its strategic initiatives of
portfolio enrichment, operational improvements, and further development of
standardized processes. Mr. Cosper will report directly to Mr. Rachor,
Sonic's President and Chief Operating Officer.
Mr. Cosper stated, "I am thrilled to be assuming a leadership role with
Sonic and the opportunity to contribute to the company's continued success.
I'm excited about the company's future prospects and believe that Sonic is
well positioned to deliver increased value to its shareholders."
Prior to agreeing to join Sonic, Mr. Cosper enjoyed a career with Ford
Credit and Ford Motor Company that spanned more than 26 years. In his most
recent capacity as Vice Chairman and CFO of Ford Credit, Mr. Cosper was
responsible for all financial planning, analysis and accounting operations of
Ford Credit, as well as risk management, audit and public affairs. Prior to
this role, Mr. Cosper served as Assistant Treasurer for Ford Motor Company,
where he was responsible for international treasury issues, risk management,
trading and treasury operations, systems, and accounting. He also previously
served as Executive Director of Corporate Finance at Ford Motor Company, with
responsibility for profit analysis, business planning, and competitive and
strategic analysis. Mr. Cosper holds a bachelor's degree in finance and a
master's degree in business administration from Michigan State University.
About Sonic Automotive, Inc.
Sonic Automotive, Inc., a Fortune 300 Company, is one of the largest
automotive retailers in the United States operating 177 franchises and 38
collision repair centers. Sonic can be reached on the Web at
http://www.sonicautomotive.com.
SOURCE Sonic Automotive, Inc.
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Related links:
http://www.sonicautomotive.com
Company News On-Call:
http://www.prnewswire.com/comp/125546.html
CONTACT:
Jeffrey C. Rachor, President,
+1-704-566-2400, or J. Todd Atenhan, Investor Relations,
+1-888-766-4218, both of Sonic Automotive, Inc.
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