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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): January 15, 1997
UNITED AUTO GROUP, INC.
(Exact name of registrant as specified in its charter)
Delaware 1-12297 22-3086739
(State or other jurisdiction (Commission File Number) (I.R.S. Employer
of incorporation) Identification No.)
375 Park Avenue, New York, New York 10152
(Address of principal executive offices) (Zip Code)
(212) 223-3300
(Registrant's telephone number, including area code)
N/A
(Former name or former address, if changed since last report)
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ITEM 5. Other Events.
On January 15, 1997, Robert H. Nelson was elected Executive Vice
President and Chief Financial Officer of United Auto Group, Inc. (the
"Company"). Mr. Nelson has served as Vice Chairman of Atlantic Auto Finance
Corporation, the Company's automobile finance company, since March 1996 and as a
director of the Company since January 1996. He replaces Arthur J. Rawl, who
resigned to pursue entrepreneurial interests. For additional information, see
the press release attached hereto as Exhibit 99.1.
On January 22, 1997, the Company announced the election of James R.
Davidson to the position of Senior Vice President of Finance, effective February
1, 1997. Mr. Davidson, formerly an audit partner of Ernst & Young LLP, will be
responsible for the Company's accounting, internal control and treasury
functions and will report to Mr. Nelson. For more information, see the press
release attached hereto as Exhibit 99.2.
ITEM 7. Financial Statements and Exhibits.
(a) Financial Statements of Businesses Acquired: N/A
(b) Pro Forma Financial Information: N/A
(c) Exhibits:
99.1 Press Release relating to the election of Robert H. Nelson as
Executive Vice President and Chief Financial Officer.
99.2 Press Release relating to the election of James R.
Davidson as Senior Vice President of Finance.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
UNITED AUTO GROUP, INC.
DATE: January 23, 1997 By:/s/ Carl Spielvogel
Carl Spielvogel
Chairman of the Board and
Chief Executive Officer
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EXHIBIT INDEX
Exhibit No. Document
99.1 Press Release relating to the election of Robert H.
Nelson as Executive Vice President and Chief
Financial Officer.
99.2 Press Release relating to the election of James R.
Davidson as Senior Vice President of Finance.
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UNITED AUTO GROUP, INC. PRESS RELEASE
Contact: Carl Spielvogel Bob Amen
Chairman and Chief Executive Officer Amen & Associates
212 223-3300 212 448-4260
UNITED AUTO GROUP ANNOUNCES APPOINTMENT
OF NEW CHIEF FINANCIAL OFFICER
Robert H. Nelson, Vice Chairman of Atlantic Auto Finance and
United Auto Group Director,
Appointed Executive Vice President and Chief Financial Officer
NEW YORK, NEW YORK, January 15, 1997 - United Auto Group, Inc. (NYSE:UAG), the
nation's largest publicly-traded automotive retailer, has appointed Robert H.
Nelson, 51, as Executive Vice President and Chief Financial Officer, it was
announced today by Carl Spielvogel, Chairman and Chief Financial Officer of
United Auto and Marshall S. Cogan, Chairman of the Executive Committee.
Mr. Nelson, who has been affiliated with United Auto since its
inception, has served as Vice Chairman of Atlantic Auto Finance Corporation, the
Company's automobile finance company since March 1996, as well as a Director of
the Company since January 1996.
Mr. Nelson succeeds Arthur J. Rawl, who resigned to pursue
entrepreneurial interests after participating in the successful completion of
the Company's IPO. Mr. Nelson, whose appointment is effective immediately,
will be responsible for United Auto's day-to-day financial and accounting
functions. He will report to Mr. Spielvogel.
In addition to his responsibilities at United Auto, Mr. Nelson serves
as an officer and Director of Trace International Holdings, Inc..
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United Auto Group, Inc. founded in 1990, is a leading acquirer,
consolidator and operator of franchised automotive and light truck dealerships
and related businesses. The Company, with proforma revenues of $1.2 billion for
the nine months ended September 30, 1996, has pursued a business strategy based
on internal growth from existing dealerships as well as from strategic
acquisitions. United Auto operates 37 franchises in Arizona, Arkansas,
Connecticut, Georgia, New Jersey, New York and Tennessee. As an integral part of
its dealership operations, United Auto sells used vehicles and also operates
eight stand-alone United Auto Mart used car retail centers. Last year the
Company sold 41,500 new vehicles and 23,700 used vehicles, taking into
consideration its recent acquisitions. United Auto also owns Atlantic Auto
Finance Corporation, an automobile finance company engaged in the purchase, sale
and servicing of prime credit quality automobile loans.
# # #
375 Park Avenue. 22nd Floor. New York, NY 10162 212-223-3300. Fax: 212-223-5148
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UNITED AUTO GROUP, INC. PRESS RELEASE
Contact: Carl Spielvogel Bob Amen
Bob Nelson Amen & Associates
212 223-3300 212 448-4260
FOR IMMEDIATE RELEASE
UNITED AUTO GROUP ANNOUNCES EXPANSION OF FINANCE TEAM
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James R. Davidson, Ernst & Young Partner, Named Senior Vice
President of Finance
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NEW YORK, NEW YORK, January 22, 1997 - United Auto Group, Inc.
(NYSE:UAG), the nation's largest publicly-traded automotive retailer, has named
James R. Davidson, 51, an audit partner of Ernst & Young LLP, a leading
accounting, financial advisory services and management consulting firm, as
Senior Vice President of Finance, a newly-created position. The announcement was
made today by Robert H. Nelson, Executive Vice President and Chief Financial
Officer of United Auto.
Mr. Davidson, who joined Ernst & Young in 1973 and
became a partner in 1985, has had extensive experience in working with
Fortune 500 clients in the consumer products and manufacturing industries.
At United Auto, he will be responsible for the Company's accounting,
internal control and treasury functions. Mr. Davidson, whose appointment is
effective February 1, will report to Mr. Nelson.
Mr. Nelson said, "We are pleased to add Jim Davidson's
financial expertise to our United Auto financial group.
"Jim's strengths fit well with our plan to continue to acquire
franchised dealerships and market used vehicles and related higher margin
aftermarket products and
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services. He will work closely with Bob Thompson to continue
to implement 'best practices' in financial control throughout our retail
network," he added.
Robert W. Thompson, Vice President of Finance, joined United
Auto in 1994 and played an integral role in the successful completion of the
Company's October 1996 initial public offering.
United Auto Group, Inc., founded in 1990, is a leading
acquirer, consolidator and operator of franchised automotive and light truck
dealerships and related businesses. The Company, with pro forma revenues of $1.2
billion for the nine months ended September 30, 1996, has pursued a business
strategy based on internal growth from existing dealerships as well as from
strategic acquisitions. United Auto operates 37 franchises in Arizona, Arkansas,
Connecticut, Georgia, New Jersey, New York and Tennessee. As an integral part of
its dealership operations, United Auto sells used vehicles and also operates
eight stand-alone United Auto Mart used car retail centers. Last year the
Company sold 41,500 new vehicles and 23,700 used vehicles, taking into
consideration its recent acquisitions. United Auto also owns Atlantic Auto
Finance Corporation, an automobile finance company engaged in the purchase, sale
and servicing of prime credit quality automobile loans.
* * *
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