Asbury Autogroup Appoints Vice President of Finance and Insurance; Former Aon Executive Joins with 25 Years of Finance & Insurance -- F&I -- Experience.Business/Automotive Editors STAMFORD, Conn.--(BUSINESS WIRE)--May 2, 2001 Asbury Autogroup, the third largest dealership group in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , today announced the appointment of Tom McCollum to Vice President of Finance and Insurance (F&I) reporting directly to Brian Kendrick Brian David Kendrick<ref name="OWWProfile" /> (born May 29, 1979) is an American professional wrestler currently signed to World Wrestling Entertainment performing on its RAW brand. , Chief Executive Officer of Asbury Autogroup. Mr. McCollum will be responsible for overseeing all finance and insurance (F&I) operations for the company including strategic relationships, regulatory compliance and improvement of same store performance. Importantly, he will provide leadership to Asbury's dealership network in order to optimize local financial related opportunities. "Tom's highly developed F&I background and industry knowledge will help Asbury provide our dealerships with new, innovative customer focused F&I programs," said Brian Kendrick. "This new position is part of our strategic focus to instill in·still v. To pour in drop by drop. in  stil·la tion n. best practices for our dealership network. It is representative of the many synergies available to us in consolidating certain functions, which through Tom's efforts, we expect will result in millions of dollars in incremental Additional or increased growth, bulk, quantity, number, or value; enlarged.Incremental cost is additional or increased cost of an item or service apart from its actual cost. bottom line profits." Mr. McCollum joins Asbury with 25 years of finance and insurance experience. Most recently, Mr. McCollum spent 20 years at Aon Corporation's Resource Group, where he concentrated on enhancing same-store results with innovative, customer-focused finance and insurance programs. Aon is a holding company that is comprised of a family of insurance brokerage, consulting and insurance underwriting subsidiaries. About Asbury Autogroup Asbury Automotive Group Asbury Automotive Group is a Fortune 1000 company based in New York, New York, and was founded in 1995. This company operates auto stores and franchises. Asbury Automotive Group, Inc. L.L.C. operates 123 automotive retail franchises and is the third largest automotive retailer in the United States with pro forma As a matter of form or for the sake of form. Used to describe accounting, financial, and other statements or conclusions based upon assumed or anticipated facts. The phrase pro forma 2000 revenues of $4.8 billion. Asbury sells, finances and services a diverse range of foreign and domestic automobile brands. The company is pursuing a disciplined strategy consisting of focused acquisitions in high growth markets followed by aggressive integration, resulting in strong same store sales Same Store Sales A statistic used in retail industry analysis. It compares sales of stores that have been open for a year or more. Notes: This statistic allows investors to determine what portion of new sales has come from sales growth and what portion from the opening of growth. The company is comprised of nine regional groups most of which are ranked first in their respective market. Additional information available at www.asburyauto.com. |
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