CHARLOTTE, N.C., April 23 /PRNewswire-FirstCall/ -- Sonic Automotive,
Inc. (NYSE: SAH) announced today that Mr. David C. Vorhoff has been
appointed to the Company's Board of Directors. Mr. Vorhoff will also serve
as a member of the Company's Audit Committee and Nominating and Corporate
Governance Committee.
Mr. Vorhoff is a co-founding Partner of McColl Partners, LLC, and has
served as a Managing Director of the firm since its founding in 2001.
Headquartered in Charlotte, North Carolina, McColl Partners provides
investment banking services to middle-market companies and financial
institutions, and advises clients in three primary areas: mergers and
acquisitions; raising private capital; and strategic advisory and valuation
assignment. Prior to 2001, Mr. Vorhoff was a Managing Director of Banc of
America Securities' Health Care Group and of NationsBanc Montgomery
Securities Health Care Group in New York, and of NationsBank Capital
Markets' mergers and acquisitions group in Charlotte. During his 20 years
of investment banking experience, Mr. Vorhoff has executed numerous
advisory and financing assignments in such industries as retail, business
services, apparel and textiles, printing and packaging, building products,
financial services and diversified manufacturing. Mr. Vorhoff is a Phi Beta
Kappa graduate of the University of North Carolina at Chapel Hill, and he
also earned a master's degree in business administration from the
Kenan-Flagler Business School at the University of North Carolina at Chapel
Hill.
O. Bruton Smith, the Company's Chairman and Chief Executive Officer,
stated, "We are delighted to add an individual of Dave Vorhoff's caliber to
our Board of Directors. Dave has tremendous experience in investment
banking and financial services, and we are confident that he will make
valuable contributions toward the Company's continued success."
Sonic Automotive, Inc., a Fortune 300 company based in Charlotte, N.C.,
is one of the largest automotive retailers in the United States operating
174 franchises and 38 collision repair centers. Sonic can be reached on the
Web at http://www.sonicautomotive.com.
SOURCE Sonic Automotives Inc.
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Related links:
http://www.sonicautomotive.com
http://www.prnewswire.com/comp/125546.html /
CONTACT:
David Cosper, Vice Chairman and Chief
Financial Officer, +1-704-566-2400, or Greg Young, Chief
Accounting Officer/Investor Relations +1-704-566-2489, both of
Sonic Automotive, Inc.
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