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Letter to the Editor
Thursday November 14
Sonic Automotive Reshuffles Leadership Team
Auto dealer Sonic Automotive Inc. has announced a sweeping reshuffling of its senior management team, in a move the company said was aimed at underpinning its continued growth.Sonic, which has grown from five to 137 dealerships since 1997, said Theodore Wright, its current chief financial officer, has been appointed president of the Charlotte-based company.
The board of directors has named B. Scott Smith to the position of vice chairman and chief strategic officer while Jeffrey Rachor has been appointed executive vice president and chief operating officer.
"These changes ... support the evolution of our senior management team and help us to fulfill our vision of becoming one of the largest U.S. retailers and a world class provider of automotive retailing sales and service," O. Bruton Smith, Sonic's chairman and chief executive officer said in a statement.
Wright, Rachor and B. Scott Smith all joined Sonic, whose third-quarter earnings rose 43 percent, before its initial public offering in late 1997.
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