The Presidio Group advised Serra Automotive, Inc. in the sale of the majority interest in four dealerships in Colorado Springs, Colo.
Serra Automotive will remain a minority partner with Maroone Enterprises, Inc. The stores will be named Mike Maroone Chevrolet South, Mike Maroone Chevrolet North, Mike Maroone Volkswagen and Mike Maroone Honda.
The transaction was completed on May 15. Terms were not disclosed.
Maroone served as president and chief operating officer of AutoNation Inc. from 1997 to 2015.
AutoNation Inc. announced the resignation of William "Bill" Berman as president and chief operating officer effective immediately.
Berman will continue to serve as an employee of the company in an advisory capacity through June 30. Mike Jackson, AutoNation's chairman and chief executive officer, will assume all operating responsibilities as AutoNation begins the selection process for a new president and chief operating officer.
AutoNation also announced the promotion of Senior Vice President Scott Arnold to executive vice president of customer care and brand extensions which include, AutoNation Collision Centers, AutoNation USA Service Now, AutoNation Precision Parts and AutoNation Auto Gear.
CU Direct has appointed Ron Frey to serve as the company's chief strategy officer for automotive solutions.
Frey begins his new position this October.
Frey has spent 30 years serving the automotive and credit union industry bringing innovative business and technological advancements to the industry. In his position with CU Direct, he will oversee the planning and direction of automotive solutions as it relates to product and market expansion.
Frey comes to CU Direct from AutoNation, Inc., where he was chief strategy officer and president of AutoNation Direct.