Retailer Pioneer Mike Jackson Steps Down as CEO of AutoNation

Mike Jackson, whose AutoNation Inc. proved the viability of retailing cars in the U.S. through a broad network of multi-brand outlets, says he will step down as CEO next year after 19 years.

Jackson, 69, will continue as executive chairman of AutoNation, which sells some 329,000 new cars and light trucks per year through 325 stores in 15 states. The company offers 35 brands and generates more than $21 billion in annual revenue.

Hired as CEO by AutoNation founder Wayne Huizenga in 1999, Jackson quickly restructured operations and spun off the company’s car rental unit. He also dumped AutoNation’s used-car operations and began rebranding all the company’s outlets under the AutoNation banner. He added the title of chairman in 2003 when Huizenga retired.

Jackson has said he won’t fully retire until rival Roger Penske, 81, does the same. Penske Automotive Group, which controls more than 340 locations worldwide, sold 248,800 new and 252,900 used cars last year.