Asbury Automotive Group Inc. CFO Patrick Guido has stepped away from his role due to personal reasons, the auto retailer said Monday. The change was effective June 24.
William Stax, Asbury’s corporate controller and chief accounting officer, was appointed interim principal financial officer effective June 25. The public dealership group will conduct a national search for Guido’s replacement.
A former executive at athletic apparel company Lululemon Athletica Inc., Guido held his position at one of the nation’s largest auto retailers for about one year.
Asbury CEO David Hult issued a statement thanking Guido for his service to the company.
Prior to his role at Lululemon, Guido spent seven years at VF Corp., a lifestyle company that includes brands The North Face, Timberland and Icebreaker, serving as treasurer and vice president of corporate development.
This is Asbury’s third CFO change in three years. In May 2020 Guido replaced Sean Goodman, who departed Asbury after just two years to join AMC Entertainment. Before his time as Asbury’s CFO, Goodman held positions with several companies in various fields, including Home Depot Inc., Morgan Stanley Inc. in London and Deloitte & Touche in New York.
Asbury, of Duluth, Ga., ranks No. 6 on Automotive News’ list of the top 150 dealership groups based in the U.S., with retail sales of 95,165 new vehicles in 2020.