A former Nissan and Gulf States Toyota executive is joining AutoNation Inc. as its new COO.
Jeff Parent, 58, will start Oct. 16, the company said. He brings an extensive background in areas including sales, supply chain management, business strategy, and operational and strategic initiatives, according to the hiring announcement. Parent will be tasked with overseeing AutoNation's daily operations, working with other members of the leadership team to enact the company's strategic plans and boost efficiency.
He will get paid an annual base salary of $800,000, receive a one-time sign-on cash payment of $1.5 million and participate in the company's annual incentive compensation program. AutoNation also is issuing him various one-time stock payments and making him eligible for annual performance-based stock compensation, according to a regulatory filing Monday.
CEO Mike Manley said in a statement that Parent is "a proven leader with an excellent track record…