8-K
GROUP 1 AUTOMOTIVE INC (GPI)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): March 1, 2023
Group 1 Automotive, Inc.
(Exact name of Registrant as Specified in Its Charter)
| Delaware | 1-13461 | 76-0506313 |
|---|---|---|
| (State or Other Jurisdiction<br><br><br>of Incorporation) | (Commission File Number) | (IRS Employer<br><br><br>Identification No.) |
| 800 Gessner, Suite 500<br><br><br>Houston, Texas 77024 | 77024 | |
| (Address of Principal Executive Offices) | (Zip Code) |
Registrant’s Telephone Number, Including Area Code: (713) 647-5700
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):
| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|---|---|
| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading<br><br><br>Symbol(s) | Name of each exchange on which registered |
|---|---|---|
| Common Stock, par value $0.01 per share | GPI | New York Stock Exchange |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company. ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 8.01 Other Events.
On March 1, 2023, Group 1 Automotive, Inc., a Delaware corporation, announced the appointment of Jamie Albertine as Vice President of Corporate Development.
A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit Index
| Exhibit<br><br><br>Number | Description |
|---|---|
| 99.1 | Press Release of Group 1 Automotive, Inc., dated as of March 1, 2023. |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| Group 1 Automotive, Inc. | ||
|---|---|---|
| Date: March 1, 2023 | By: | /s/ Gillian A. Hobson |
| Name: Gillian A. Hobson | ||
| Title: Sr. Vice President |
gpi-ex991_6.htm
Exhibit 99.1
FOR IMMEDIATE RELEASE
Group 1 Automotive Announces Appointment of Vice President of Corporate Development
HOUSTON– March 1, 2023 – Group 1 Automotive, Inc. (NYSE: GPI) (“Group 1” or the “Company”), an international Fortune 300 automotive retailer with 204 dealerships located in the U.S. and U.K., announced today that Jamie Albertine has joined the Company as its Vice President of Corporate Development. In his role, Jamie will be responsible for mergers and acquisitions, real estate, and construction activities.
Albertine joins Group 1 with over 20 years’ experience in the automotive and financial services industries. Most recently, he served as Vice President, Strategic Initiatives and Corporate Development at MileOne Auto Group. At MileOne, he was responsible for driving growth and working to implement key strategic priorities across a portfolio of over 70 dealerships. Earlier in his career, Albertine served as Managing Partner/Senior Analyst at Consumer Edge Research and Director/Lead Analyst at Stifel Nicolaus & Co, Inc. Albertine received his undergraduate degree from Harvard University.
“Jamie is a great addition to the Group 1 leadership team. He is a proven corporate development leader, and his experience and background will be instrumental in driving our strategic growth,” said Daryl Kenningham, Group 1’s President and CEO.
ABOUT GROUP 1 AUTOMOTIVE, INC.
Group 1 owns and operates 204 automotive dealerships, 275 franchises, and 46 collision centers in the United States and the United Kingdom that offer 35 brands of automobiles. Through its dealerships and omni-channel platform, 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.
Group 1 discloses additional information about the Company, its business, and its results of operations at www.group1corp.com, www.group1auto.com, www.group1collision.com, www.acceleride.com, www.facebook.com/group1auto, and www.twitter.com/group1auto.
SOURCE: Group 1 Automotive, Inc.
Investor contacts:
Terry Bratton
Manager, Investor Relations
Group 1 Automotive, Inc.
tbratton@group1auto.com
Media contacts:
Pete DeLongchamps
Senior Vice President, Manufacturer Relations, Financial Services and Public Affairs
Group 1 Automotive, Inc.
pdelongchamps@group1auto.com
or
Clint Woods
Pierpont Communications, Inc.
713-627-2223
cwoods@piercom.com