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He has headed the property and casualty insurance unit, as well as his federal savings bank and his investment companies, the statement said. USAA has a major presence in Dallas-Fort Worth, with a technology and design office in Plano and a consulting and financial services office in Addison.
Liebert is the son of a speed runner and a car enthusiast ever since.
"The possibilities for AutoNation are enormous and the ability to lead this next chapter is deeply humbling and exciting," Liebert said in his release.
Liebert will lead the chain of 325 stores as the auto industry faces slower sales in the United States, the massive move from sedans to heavy trucks and SUVs, and the risk of losing business if autonomous vehicles and services of repair replaced the possession of private cars.
AutoNation was right to look outward to gain financial and commercial expertise because of the difficulties faced by car dealerships, said Michelle Krebs, an analyst at Autotrader.com.
"The financial side of the operations, the costs, the fixed operations, all this will be extremely important because we know that car sales will not increase, at least not for a while," she said. "The business is changing, we are moving towards a period when mobility services are integrated."
Jackson, a prominent industry figure who often speaks and hosts panels at conferences, has been leading AutoNation for 20 years. He will remain executive chairman until 2021.
AutoNation stated that Liebert's appointment was unanimously approved by his board of directors and by the two largest investors in the company.
Jackson announced his retirement in September and the company launched a search including internal and external candidates.
It has earned a reputation as an innovator and, in 2017, entered into a multi-year partnership with Google to maintain its autonomous car division, Waymo.
He took over the troubled business in 1999 at a time when many doubted that a centralized chain could supplant local dealers with deep ties to their communities. Under his direction, the chain continued to acquire resellers. In 2013, she deleted local names and renamed them most under the name of AutoNation.
While new car sales peaked in 2016, Jackson has channeled the chain to second-hand vehicles, opening several stand-alone showrooms and selling its own brand of spare parts.
Shares of AutoNation Inc. fell by just over 3% on Friday at the noon trading session, after the company announced that fourth-quarter net income had fallen by nearly 40% compared to the previous year, to establish at $ 92.7 million, or $ 1.02 per share.
Earnings, adjusted for restructuring costs and to reflect discontinued operations, were $ 1.10 per share. The results were below Wall Street's expectations. The average estimate of the 12 analysts surveyed by Zacks Investment Research indicated earnings per share of $ 1.14.
Tom Krisher, The Associated Press
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