Asbury Automotive Group Promotes CFO Craig T. Monaghan to CEO

The Board of Directors of Asbury Automotive Group, Inc. ABG today announced its succession plan in anticipation of the retirement of President and CEO Charles R. Oglesby on July 31, 2011. Senior Vice President and CFO Craig T. Monaghan has assumed the role of President and CEO, and Senior Vice President and COO Michael Kearney has been promoted to Executive Vice President. Oglesby has assumed responsibilities as the Chairman of Asbury's Board of Directors until he retires at the end of July.