Executive Officers

Roger S. Penske, Chair of the Board and CEO of Penske Automotive Group

Since May 1999, Mr. Penske has served as our Chair and CEO. Mr. Penske has also been Chair of the Board and CEO of Penske Corporation since 1969 and Chair of the Board of Penske Truck Leasing Corporation since 1982. Mr. Penske also is a Director of the Downtown Detroit Partnership and a director of Business Leaders for Michigan. Mr. Penske previously served as a member of the Board of Directors of Universal Technical Institute in the past five years.

Individual experience: Extensive automotive industry experience; relationships with our key automotive partners; familiarity with all of the Company’s key operations; experience as an executive and a director of some of the world’s leading companies; significant ownership position of our stock through Penske Corporation and other affiliates.

Robert H. Kurnick Jr., President of Penske Automotive Group

Mr. Kurnick has served as our President since April 2008. Since September 2017, Mr. Kurnick has served as Vice Chair of Penske Corporation, and from 2003 until then served as President of Penske Corporation. He has also been a director of Penske Corporation since 2003. Penske Corporation is a privately owned diversified transportation services company that holds, through its subsidiaries, interests in a number of businesses.

Individual experience: Familiarity with all of the Company’s key operations; breadth of knowledge concerning issues affecting our Company; extensive automotive industry experience; experience as Vice Chair and former President of Penske Corporation.

Claude ("Bud") H. Denker, III, Executive Vice President, Human Resources

Mr. Denker has served as our Executive Vice President, Human Resources since July 1, 2015. He also serves as Executive Vice President, Marketing and Communications of Penske Corporation, which he joined in 2005. Mr. Denker served as our Executive Vice President – Marketing from 2005 to June 2015. Prior to joining us, Mr. Denker served as Vice President, Brand and Market Development for Eastman Kodak Company from 2001-2005.

Shelley Hulgrave, Executive Vice President and Chief Financial Officer

Ms. Hulgrave has served as our Senior Vice President since February 2020 and our Vice President and Corporate Controller since June 2015. She has also served as our Corporate Accounting Manager beginning in October 2006 coordinating the company’s accounting teams in the United States, Europe and Australia. Prior to joining us, Ms. Hulgrave held various positions for DaimlerChrysler Financial and Ernst & Young.

Shane M. Spradlin, Executive Vice President, General Counsel And Secretary

Mr. Spradlin has served as our Executive Vice President since February 2010, our General Counsel since December 2007, and our Corporate Secretary since March 2004. Mr. Spradlin joined our Company in March 2003. From 1999 to 2003, he served as Corporate Counsel to Nextel Communications in Reston, Virginia. From 1995 through 1999, Mr. Spradlin was an associate with the New York and Washington, D.C. offices of Latham & Watkins, specializing in corporate finance and mergers and acquisitions.

Other Executive Officers

George W. Brochick, Executive Vice President, Strategic Development

Mr. Brochick has served as Executive Vice President of Strategic Development since July 1, 2012. Prior to this he served as Executive Vice President of our Western Region since December 2002. He joined PAG in 1996 upon the sale of the former Sun Automotive Group to Penske Automotive. In addition to his current executive functions, Mr. Brochick has held numerous dealership general manager positions throughout his automotive career.

From 1977 to 1984, prior to entering the automobile business, Mr. Brochick served as Vice President, Operations, for Southwest Kenworth, Inc. Mr. Brochick also held the position of Director, Marketing Services, for Euclid, Inc., a division of Daimler-Benz, A.G., with worldwide responsibilities for market research and technical field studies.

Mr. Brochick currently serves as a Board Member of the American International Automobile Dealers Association and Universal Technical Institute.

Tracy Cassady, Executive Vice President, Marketing

Ms. Cassady has served as our Executive Vice President, Marketing since August 1, 2020. She previously served as our Senior Vice President, Corporate Marketing since February 2020, Vice President since 2015, and Director since 2011. Prior to joining us, Ms. Cassady held various global marketing and communication positions at Federal-Mogul Corporation.

Tony Facione, Vice President and Corporate Controller

Tony Facione, 39, has served as our Vice President and Corporate Controller since June 2021. He previously served as our Director — Financial Services and Controller from June 2020 to June 2021, our Controller — Central Region from January 2017 to June 2020 and our Manager — Financial Planning and Analysis from October 2012 to December 2016. Mr. Facione joined the Company in 2007 as a Financial Analyst. Prior to joining us, Mr. Facione was an auditor at Plante Moran.

Richard A. Hook, Executive Vice President And Chief Information Officer

Mr. Hook has served as our Executive Vice President and Chief Information Officer since February 13, 2019. Prior to that he served as our Senior Vice President and Chief Information Officer since May 1, 2015, as well as Vice President, IT Infrastructure since July 2009. Before joining the company in 2009, Mr. Hook held various positions at Arthur Andersen LLP, H&R Block Financial Advisors and Federal-Mogul Corporation.

Aaron Michael, Executive Vice President, Financial Services and Global Risk Management, and Treasurer

Mr. Michael has served as our Senior Vice President, Financial Services since 2014 and has been the Company's Treasurer since 2006. In this role, Mr. Michael will continue to manage the Company's capital structure, relationships with lending partners and real estate portfolio. He is also assuming the additional responsibility of oversight for the Company's risk management function. From 2001 through 2006, Mr. Michael was employed by Penske Corporation in various finance and treasury roles. Prior to working with Penske, Mr. Michael was a commercial lender for Comerica Bank.

Anthony R. Pordon, Executive Vice President, Investor Relations And Corporate Development

Mr. Pordon has served as Executive Vice President since May 2011. Prior to that Mr. Pordon served as Senior Vice President since January 2006 and Vice President since July 2001. Mr. Pordon’s primary responsibilities include Investor Relations, Corporate Communications and Corporate Development, including the responsibility for establishing, directing and maintaining Penske Automotive’s communication strategies and representation on Wall Street with the buy-side and sell-side analyst community.

Prior to entering the retail automobile business, Mr. Pordon served in various capacities at Detroit Diesel Corporation, a $2 billion manufacturer of heavy-duty diesel engines. Prior to Detroit Diesel, Mr. Pordon was an auditor for five years at Deloitte & Touche LLP.

North American Operations

John Cragg, Executive Vice President, Eastern U.S. Operations

Mr. Cragg has served as Executive Vice President of our Eastern Region since July 1, 2012. Most recently, he had been Divisional Managing Director – Volkswagen Group, overseeing Sytner Group’s Southern Market area since June 2005. In 2004, John held the position of Audi Franchise Director in Sytner’s Northern Market area. Mr. Cragg began his automotive career in 1987 and joined the Sytner Group in March 1994, where he established himself as the number one sales executive within the Sytner Direct sales operation.

Tyler Heard, Executive Vice President, Central U.S. Operations

Mr. Heard has served as Executive Vice President of Central Operations since January 7, 2019. Most recently he had been Area Vice President for the company's Atlanta, Florida, and Tennessee businesses since 2014. Prior to this, Mr. Heard served in various Sales, Sales Management, and General Manager capacities for the company since 2001.

Bernie Wolfe, Executive Vice President, Western U.S. Operations

Mr. Wolfe has served as Executive Vice President of our Western Region since July 1, 2012. Most recently he served as Executive Vice President of our Eastern Region since March 2008. Prior to this he had been the Area Vice President responsible for the company’s Southern California businesses. Mr. Wolfe has served in various capacities with PAG since 1999 after a 25-year career with Toyota Motors USA.

Richard P. Shearing, President, Premier Truck Group

Richard “Rich” Shearing, President of Premier Truck Group since February, 2015, has oversight for all North American commercial truck dealership operations. Mr. Shearing began his career with Detroit Diesel in 1997 as an application engineer, and manager of that department from 2004 to 2007. In 2007 he accepted a position with the Sterling and Western Star division of Daimler Trucks North America as the head of Product. Mr. Shearing then moved to the Freightliner brand as the Director of Worldwide Product Strategy. In 2012 he returned to the Detroit division as the General Manager of Freightliner’s powertrain components and in 2013 filled the role of Vice President of National Account Sales.

International Operations

Gerard Nieuwenhuys, Chairman Of The Sytner Group

Mr. Nieuwenhuys Chairman of Sytner since September 2014. His earlier career with Sytner began in November 1990, when Mr. Nieuwenhuys joined the company as Sales Manager when it was a single BMW dealership in Nottingham. He was appointed Sales Director of BMW Nottingham in 1992, becoming Managing Director of that dealership in 1993 to coincide with the Group's first acquisition. In 1996, he became Operations Director of the Group, and was appointed Joint Managing Director in 2003.

Prior to joining Sytner Group, Mr. Nieuwenhuys was employed at Inchape as Sales Executive becoming Sales Manager of two dealerships in 1983. Mr. Nieuwenhuys served as Managing Director of the Sytner Group from May 2005 to September 2014.

Darren Edwards, Managing Director Of The Sytner Group

Mr. Edwards has served as Managing Director of Sytner since September 2014.

Darren joined the Sytner Group in 2004 as a sales manager in the BMW division and eventually became a Dealer Principal, most recently at BMW High Wycombe.

Darren then went to become the Franchise Director for BMW South and most recently was the Divisional Managing Director for the Volkswagen Group dealerships.

Randall Seymore, President, Penske Australia

With over 20 years' experience with Penske, Randall has held various roles in the automotive and commercial vehicle sectors including Detroit Diesel, VM Motori and Penske Automotive Group. He has worked in the United States, Italy and Australia holding positions in project and account management, manufacturer relations and general management. Randall was appointed President of Penske Transportation Group International in August 2013, leading Penske's launch and subsequent growth into Australia and New Zealand. Based in Brisbane, Randall oversees the Penske Commercial Vehicles, Penske Power Systems and Penske Truck Rental businesses. He is also a Director of Penske's Nicole Group automotive interests in Japan.

Randall holds a Bachelor of Arts in International Business and Spanish from Hillsdale College and completed the executive education program at the University of Michigan's Stephen M. Ross School of Business.

Board of Directors

Roger S. Penske, Chair of the Board and CEO of Penske Automotive Group

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Since May 1999, Mr. Penske has served as our Chair and CEO. Mr. Penske has also been Chair of the Board and CEO of Penske Corporation since 1969 and Chair of the Board of Penske Truck Leasing Corporation since 1982. Mr. Penske also is a Director of the Downtown Detroit Partnership and a director of Business Leaders for Michigan. Mr. Penske previously served as a member of the Board of Directors of Universal Technical Institute in the past five years.

Individual experience: Extensive automotive industry experience; relationships with our key automotive partners; familiarity with all of the Company’s key operations; experience as an executive and a director of some of the world’s leading companies; significant ownership position of our stock through Penske Corporation and other affiliates.

John D. Barr, Retired Chairman, Papa Murphy’s Holdings, Inc.

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Mr. Barr was the Chairman of Papa Murphy’s Holdings, Inc., a franchisor and operator of Take- N-Bake pizza from September 2009 to September 2016 and was its Chief Executive Officer from April 2004 to January 1, 2012. From 1999 until April 2004, Mr. Barr served as President and Chief Executive Officer of Automotive Performance Industries, a vehicle transportation service provider. Prior thereto, Mr. Barr was President and Chief Operating Officer, as well as a member of the Board of Directors, of Quaker State Corporation from June 1995 to 1999. Prior to joining Quaker State, Mr. Barr spent 25 years with the Valvoline Company, a subsidiary of Ashland Inc., where he was President and Chief Executive Officer from 1987 to 1995.

Individual experience: Extensive oil industry experience from serving ultimately as COO and director of Quaker State Corporation; breadth of knowledge concerning issues affecting our Company; experience with franchise business model as former CEO of Papa Murphy’s Holdings.

Lisa Davis, Former Chief Executive Officer Gas and Power and Managing Board Member, Siemens AG

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From August 2014 through February 2020 when she resigned, Ms. Davis served as a member of the Managing Board for Siemens AG responsible as Chief Executive Officer for the company’s Gas and Power global operations present in 80 countries around the world. Also from January 2017 through February 2020 she served as Chair and CEO of Siemens Corporation, USA, the largest market globally for Siemens AG. From 1986 to 2014, Ms. Davis served in various capacities with Exxon Corporation, Texaco USA and Royal Dutch Shell, most recently, Executive Vice President - Strategy, Portfolio and Alternative Energy and Vice President - Lubricants and Commercial Fuels Americas, and previously numerous leadership positions in Supply and Refining. Ms. Davis is also a director for Kosmos Energy Ltd., Air Products and Chemicals, Inc. and Phillips 66.

Individual experience: Extensive global energy industry experience from serving in various capacities along the entire value chain from upstream to manufacturing to sales and marketing; senior executive leadership experience with international industry-leading companies; diverse experience with public company board service in the U.S. and Europe.

Wolfgang Dürheimer, Retired Chairman and CEO Bentley Motors Ltd.

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Mr. Dürheimer served as the Chairman and Chief Executive Officer of Bentley Motors Ltd., a subsidiary of Volkswagen AG, from April 2014 to January 2018, as well as the President of its sister companies, Bugatti Automobiles S.A.S. and Bugatti International S.A. Previously, Mr. Dürheimer held various positions with Volkswagen AG and its subsidiaries, most recently as the Chief Representative of Volkswagen Group Motorsport responsible for the Group Motorsport Strategy from February 2011 to January 2018 and he was a member of the Board of Management of Audi AG from September 2012 to March 2014. From 1999 until 2011, Mr. Dürheimer worked for Porsche AG, where he was a member of the Board of Management responsible for Research and Development. Prior to joining Porsche in 1999, Mr. Dürheimer worked 14 years with BMW, where he held various managerial roles.

Individual experience: Extensive automotive industry experience with some of the Company’s largest represented brands including Audi, Bentley, BMW, and Porsche, culminating in leadership experience as Chief Executive Officer of Bentley Motors; relationships with our key automotive industry partners, breadth of knowledge concerning issues facing our Company.

Michael R. Eisenson, Founding Partner Charlesbank Capital Partners LLC

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Mr. Eisenson has served as the Founding Partner of Charlesbank Capital Partners LLC, a private investment firm and the successor to Harvard Private Capital Group, Inc. since July 1, 2017. Previously, he was CEO of Charlesbank Capital Partners LLC, which he founded in 1998. Mr. Eisenson also serves as a director of Penske Corporation and is a director of a number of private companies.

Individual experience: Familiarity with all of the Company’s key operations from serving as our director since 1993; experience managing Charlesbank and affiliates and their portfolio companies; experience in commercial finance, private equity and leveraged finance; demonstrated success formerly serving as our audit committee chairman.

Robert H. Kurnick Jr., President of Penske Automotive Group

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Mr. Kurnick has served as our President since April 2008. Since September 2017, Mr. Kurnick has served as Vice Chair of Penske Corporation, and from 2003 until then served as President of Penske Corporation. He has also been a director of Penske Corporation since 2003. Penske Corporation is a privately owned diversified transportation services company that holds, through its subsidiaries, interests in a number of businesses.

Individual experience: Familiarity with all of the Company’s key operations; breadth of knowledge concerning issues affecting our Company; extensive automotive industry experience; experience as Vice Chair and former President of Penske Corporation.

Kimberly J. McWaters, President and CEO of Fresh Start Women’s Foundation

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Ms. McWaters has served as President and Chief Executive Officer of Fresh Start Women’s Foundation since February 1, 2021 after a long tenure as a director of that organization. Ms. McWaters was previously President and CEO of Universal Technical Institute, Inc. (UTI), the nation's leading provider of transportation industry technician training through October 31, 2019. She was named President of UTI in 2000, CEO in 2003 and she served as its Chairman from 2013 to 2017. Ms. McWaters joined UTI in 1984 and has held several leadership positions in the company, including Vice President of Marketing and Vice President of Sales & Marketing. Ms. McWaters is also a director of UTI and WillScot Mobile Mini Holdings Corp.

Individual experience: Automotive industry experience with UTI; accomplishment within her field culminating with leadership experience as Chief Executive Officer of UTI; expertise relating to service and parts operations and particularly service technicians; community involvement with Fresh Start Women’s Foundation.

Greg Penske, Chairman and CEO of Penske Motor Group

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Mr. Penske joined our Board in May 2020 and was previously our director from May 2014 to May 2017. He has been the Chairman and Chief Executive Officer of Penske Motor Group, LLC, an automotive group that includes the Toyota, Lexus and Mercedes brands. Mr. Penske has served on the Board of Directors of Penske Corporation since 1999, and also currently serves as a board member and Vice Chairman of Penske Entertainment and board member of Petersen Automotive Museum. Mr. Penske is the son of our Chief Executive Officer, Roger S. Penske.

Individual Experience: Extensive automotive retail industry experience; relationships with key automotive partners; familiarity with all of the Company’s key operations through Penske Corporation directorship and Penske Truck Leasing Advisory Board membership.

Sandra E. Pierce, Senior Executive Vice President and Chair, Huntington Michigan

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Since August 2016, Ms. Pierce has been Huntington Bank’s Senior Executive Vice President, Private Bank and Regional Banking Director and Chair of Michigan. Ms. Pierce has led the Private Bank, Insurance Agency, Auto, Marine and RV businesses as well as state activities in Michigan. From February 1, 2013, until their August 2016 merger with Huntington, Ms. Pierce served as Vice Chairman of FirstMerit Corporation, and Chairman and CEO of FirstMerit Michigan. From 2005 until June 2012, Ms. Pierce served as the Chief Executive Officer and President at Charter One Bank Michigan, a division of RBS Citizens, N.A. where she had responsibilities for commercial banking and all state bank activities in Michigan as well as oversight of all state activities in Illinois and Ohio. From 1978 through 2004, Ms. Pierce served as Regional Executive of Midwest Retail Operations for JPMorgan Chase, with responsibilities for Michigan and Indiana, and she held a number of management positions in the retail, commercial lending, and private banking businesses at JPMorgan Chase and its predecessor companies, Bank One, First Chicago NBD Corp. and NBD Bancorp. Ms. Pierce is a director of American Axle and Manufacturing Holdings, Inc., and has performed leadership duties with numerous civic organizations. Ms. Pierce is also Board Chair of ITC Holdings, which was previously a public company in the past five years.

Individual Experience: Extensive retail and commercial banking experience; accomplished within her field culminating in CEO experience; extensive experience on private company boards and demonstrated commitment to civic works.

Greg C. Smith, Principal, Greg C. Smith LLC and former Vice Chairman, Ford Motor Company

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Mr. Smith, retired Vice Chairman of Ford Motor Company, currently serves as Principal of Greg C. Smith, LLC, a private management consulting firm, a position he has held since 2007. Previously, Mr. Smith was employed by Ford Motor Company for over 30 years until 2006. Mr. Smith held various executive-level management positions at Ford Motor Company, most recently serving as Vice Chairman from 2005 until 2006. As Vice Chairman, Mr. Smith was responsible for Ford’s Corporate Strategy and Staff, including Human Resources and Labor Affairs, Information Technology, and Automotive Strategy. Currently, Mr. Smith serves as the Non-Executive Chairman of the Board of Directors of Lear Corporation and formerly served as a director of Penske Corporation, the Federal National Mortgage Association (Fannie Mae) and Solutia, Inc. Mr. Smith serves on the Risk Oversight Advisory Council of the National Association of Corporate Directors.

Individual experience: Extensive experience as an executive and a director; experience in a leadership role in automotive and finance; perspective gained from leadership role in automotive and financial industries; extensive public company audit committee experience.

Ronald G. Steinhart, Retired Chairman and CEO, Commercial Banking Group, Bank One Corporation

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Mr. Steinhart served as Chairman and CEO, Commercial Banking Group, of Bank One Corporation from December 1996 until his retirement in January 2000. From January 1995 to December 1996, Mr. Steinhart was Chairman and CEO of Bank One, Texas, N.A. Mr. Steinhart joined Bank One in connection with its merger with Team Bank, which he founded in 1988. In the previous five years, Mr. Steinhart formerly served as a director of Southcross Energy Partners, L.P.

Individual experience: Extensive experience in banking and commercial lending industries; experience with respect to automotive retail finance and insurance operations; extensive public company audit committee experience.

H. Brian Thompson, Executive Chairman of GTT Communications, Inc.

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Mr. Thompson is Executive Chairman of GTT Communications, Inc., a leading global cloud network provider to multinational clients. Mr. Thompson continues to head his own private equity investment and advisory firm, Universal Telecommunications, Inc. From December 2002 to June 2007, Mr. Thompson was Chairman of Comsat International and also served as Chairman and Chief Executive Officer of Global TeleSystems Group, Inc. from March 1999 through September of 2000. Mr. Thompson was Chairman and CEO of LCI International from 1991 until its merger with Qwest Communications International Inc. in June 1998. Mr. Thompson became Vice Chairman of the board for Qwest until his resignation in December 1998. Mr. Thompson previously served as Executive Vice President of MCI Communications Corporation from 1981 to 1990, and prior to MCI, was a management consultant with the Washington, DC offices of McKinsey & Company for nine years, where he specialized in the management of telecommunications. He currently serves as a member of the board of directors of Pendrell Corporation. In the previous five years, Mr. Thompson was formerly a director Sonus Networks, Inc. Mr. Thompson received his MBA from Harvard’s Graduate School of Business, and holds an undergraduate degree in chemical engineering from the University of Massachusetts.

Individual experience: Extensive experience as an executive and director of numerous public companies; experience in a leadership role directing international corporations; perspective gained from leadership role in communications industry; demonstrated success serving as our lead independent director.

Masashi Yamanaka, Executive Vice President, Strategic Relationship Management, Penske Automotive Group

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Mr. Yamanaka has served as our Executive Vice President, Strategic Relationship Management since March 1, 2019. Prior to that, he held numerous positions with Mitsui starting in April 1987. Mr. Yamanaka was Senior Vice President of Mitsui & Co. (U.S.A.), Inc. from December 2018 to February 2019, and the General Manager of Mitsui’s Second Motor Vehicles Division from April 2015 to November 2018. From July 2014 to April 2015, he served as Deputy General Manager, Second Motor Vehicles Division. From January 2013 to July 2014, he served as Deputy General Manager, Planning and Administrative Department, Planning & Administrative Division of the Machinery & Infrastructure Business Unit.

Individual Experience: Global automotive industry experience; breadth of knowledge concerning international opportunities; affiliation with Mitsui, which is the Company’s second largest stockholder.