Benzinga | Jul 6, 2021 11:41AM EDT

Asbury Automotive Appoints Michael Welch As CFO

* Automotive retailer Asbury Automotive Group, Inc. (NYSE:ABG) has appointed Michael Welch as Senior Vice President and Chief Financial Officer effective August 9, 2021.

* Welch has served as the Vice President and Corporate Controller at Group 1 Automotive, Inc. (NYSE:GPI).

* Welch did his Bachelor of Business Administration from Oklahoma Baptist University and is a Certified Public Accountant (CPA) in Texas.

* "Michael has spent over 20 years working in the automotive retail industry, so he brings with him a deep understanding of the auto retail business along with broad experience in financial management, treasury, accounting, and auditing, which will prove invaluable as we continue to execute on our five-year growth plan," said CEO David Hult.

* Price action: ABG shares traded lower by 2.48% at $173.19 on the last check Tuesday.