CEO Mike Jackson, under whose leadership AutoNation (AN) stock grew more than thrice, announced that he plans to step down from the role in the coming year. The company announced that Jackson would, however, stay on as executive chairman till 2021.
Jackson joined the largest (arguably) US retail chain AutoNation in 1999 from the US wing of Mercedes-Benz, where he was president.
Mike Jackson, who went on CNBC this week, had jabbed Elon Musk’s bait-and-switch” on his $35,000 Model-3 promise hinting that Tesla might not be around in ten years to see electric cars take over the industry.
“We’re past the inflection point on electrification,” Jackson added, “I think if Tesla was there it would be quite something.” According to the outgoing CEO, Elon Musk lacks a sustainable business strategy in the long run.
Most Popular
MRK Earnings: Merck Q1 2024 profit jumps on 9% revenue growth
Pharmaceutical company Merck & Co. Inc. (NYSE: MRK) reported a sharp increase in adjusted earnings for the first quarter of 2024, aided by an increase in revenues. First-quarter worldwide sales
Infographic: A snapshot of Caterpillar’s (CAT) Q1 2024 financial results
Caterpillar Inc. (NYSE: CAT), a leading manufacturer of construction and mining equipment, on Thursday reported first-quarter 2024 financial results. Sales and revenues for the first quarter of 2024 were $15.8
AAL Earnings: Key quarterly highlights from American Airlines’ Q1 2024 financial results
American Airlines Group Inc. (NASDAQ: AAL) reported its first quarter 2024 earnings results today. Total operating revenues increased 3.1% year-over-year to $12.5 billion. Net loss amounted to $312 million, or $0.48
