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AutoNation announced Friday that Carl Liebert would succeed Mike Jackson, long-time president and CEO.
Liebert is currently Chief Operating Officer of the USAA Financial Services Company and will take up his duties on March 11.
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He was Executive Vice President of Home Depot Home Renovation Chain Stores, where he was responsible for international sales, strategy, execution and operations.
Jackson announced last September that he would step down as chief executive officer of the largest motor vehicle retail chain in the United States and remain executive chairman of the board until 2021.
The company's shares have more than tripled since Jackson became CEO in 1999 after its founder, Wayne Huizenga, hired him at Mercedes-Benz USA, where Jackson was president.
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AutoNation also announced a 4.8% drop in sales in the fourth quarter on Friday as the largest US motor vehicle retail chain sold fewer new vehicles.
Net income from continuing operations of AutoNation fell to $ 92.9 million, or $ 1.02 per share. Revenues went from $ 5.68 billion to $ 5.41 billion.
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