Lithia & Driveway (LAD) Announces Chief Operating Officer Transition
Rhea-AI Summary
Lithia & Driveway (NYSE: LAD) announced that Executive Vice President and Chief Operating Officer Adam Chamberlain will transition from his role effective June 1, 2025 to become CEO of Mercedes-Benz USA. CEO Bryan DeBoer acknowledged Chamberlain's contributions in strengthening operations, driving growth, and advancing company strategy.
Following this transition, LAD's Regional Presidents and Regional Vice Presidents will report directly to CEO Bryan DeBoer. The company emphasized its 'Growth Powered by People' mission and expressed confidence in its operational leadership team to maintain high velocity and continue executing company strategy.
Positive
- Strengthened partnership with Mercedes-Benz through executive transition
- Demonstrates strong internal leadership bench strength
Negative
- Loss of key executive (COO) who contributed to operational improvements
- Potential operational disruption during leadership transition
News Market Reaction
On the day this news was published, LAD declined 2.66%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
"We are incredibly grateful for Adam's leadership as our Chief Operating Officer and the value he brought to Lithia & Driveway," said Bryan DeBoer, President and CEO of Lithia & Driveway. "His contributions have helped strengthen our operations, sharpen our offerings and customer awareness, drive growth, and advance our strategy. This is the beginning of a new chapter in our long-standing partnership with Mercedes-Benz, and Adam remains committed to our shared success."
LAD's mission of Growth Powered by People ensures that the company has a deep bench of talented operational leaders. LAD's Regional Presidents and Regional Vice Presidents will now report directly to Bryan DeBoer. The team's experience, commitment, and leadership ensure that LAD will continue its high velocity and remain well-positioned to continue executing the company's strategy and driving towards our potential.
About Lithia & Driveway (LAD)
Lithia & Driveway (NYSE: LAD) is the largest global automotive retailer providing a wide array of products and services throughout the vehicle ownership lifecycle. Simple, convenient, and transparent experiences are offered through our comprehensive network of physical locations, e-commerce platforms, captive finance solutions, fleet management offerings, and other synergistic adjacencies. We deliver consistent, profitable growth in a massive and unconsolidated industry. Our highly diversified and competitively differentiated design provides us the flexibility and scale to pursue our vision to modernize personal transportation solutions wherever, whenever and however consumers desire.
Sites
www.lithia.com
www.investors.lithiadriveway.com
www.lithiacareers.com
www.driveway.com
www.greencars.com
www.drivewayfinancecorp.com
Lithia & Driveway on Facebook
https://www.facebook.com/LithiaMotors
https://www.facebook.com/DrivewayHQ
Lithia & Driveway on X
https://x.com/lithiamotors
https://x.com/DrivewayHQ
https://x.com/GreenCarsHQ
Lithia & Driveway on LinkedIn
https://www.linkedin.com/company/lithia-motors/
Lithia & Driveway on YouTube
https://www.youtube.com/@Lithia_Motors/featured
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SOURCE Lithia Motors, Inc.
FAQ
When is Adam Chamberlain leaving his position as COO of Lithia & Driveway (LAD)?
Who will Adam Chamberlain report to after leaving LAD?
How will LAD's reporting structure change after Chamberlain's departure?
What is LAD's strategy for maintaining operations after the COO transition?
