In a recent Hendrick Automotive Group press release, chairman Rick Hendrick of Hendrick Group has assumed the role of a chief executive officer following the planned retirement of president and CEO Edward J. Brown III. Hendrick, who founded the company in 1976, retains the title and responsibilities of the chairman. In addition, longtime corporate advisor and legal counsel Gregory H. Gach has been named president of Hendrick Automotive Group, reporting to Hendrick. The transitions became effective on Jan. 1.
Brown’s decision to retire after nearly a decade with Hendrick Automotive Group was made in early 2019 and announced internally in November. He joined the Charlotte-based company in May 2010 as chief financial officer and became CEO on Jan. 1, 2011. Brown, 71, was previously president of global corporate and investment banking for Bank of America, where he retired in 2004.
In addition to his role as president of Hendrick Automotive Group, Gach is president of Hendrick Companies, which is the family office responsible for oversight and administration of Rick Hendrick’s entire portfolio of businesses, holdings, and investments.
A native of Birmingham, Michigan, Gach graduated from Miami University in Oxford, Ohio, before attending law school at the University of Michigan. He was a founding board member of the National Association of Dealer Counsel and has been recognized on numerous occasions for his professional accomplishments, including on the lists of North Carolina Super Lawyers and North Carolina Business Magazine “Legal Elite.” Gach, 60, has also served a variety of community and charitable organizations, including on the Charlotte Urban Ministry board, the Charlotte Country Day School board, the Charlotte Children’s Hospital advisory committee, and the Levine Children’s Hospital planning and advisory committee.
Hendrick Automotive Group generated approximately $10 billion in revenue in 2019 after selling 220,000 vehicles and servicing 2.7 million cars and trucks. You can see the full press release PR.