Cox Automotive announced Sept. 15 that Scott LeTourneau will become its new executive vice president and chief financial officer, starting Sept. 19.
LeTourneau has been with Cox since 2012 in various corporate development roles. Previously, he served as senior vice president of corporate development for Cox Enterprises where he led acquisitions, strategic investments, joint ventures, and divestitures for Cox Enterprises, Cox Automotive, and Cox Communications.
During his 20-plus year career, LeTourneau has been a strategic finance leader focused on developing and carrying out growth strategies.
At Cox Automotive, LeTourneau will oversee all finance functions and the company’s financial solutions business, NextGear Capital.
“Scott is a strategic leader with an operator’s mindset and his experience with a variety of industries and business models will help us continue to lead the automotive industry and grow long into the future,” said Steve Rowley, president at Cox Automotive, in a recent news release. “We all look forward to seeing the impact he will make on this incredible business.”
As previously announced, Chief Financial Officer Mark Bowser will retire at the end of this year. He concludes a 41-year career, including an 11-year run at Cox Communications and six years as CFO for Cox Automotive.
Bowser has been a key member of the Cox Automotive executive leadership team and has helped lead record revenue growth during his time with the company. He and LeTourneau will work together for the next four months to ensure a smooth transition.
“Scott is a talented, driven and knowledgeable leader,” said Dallas Clement, president and CFO of Cox Enterprises. “He has a history of building relationships across the company, always comes to the table with a well-thought-out point of view, and simply put, has a knack for getting things done. He has played a critical role in the growth and evolution of our business at Cox Enterprises, and I look forward to seeing his impact at Cox Automotive.”
Since joining Cox in 2012, LeTourneau has executed more than 55 strategic transactions with an aggregate deal value of more than $12 billion. He has helped Cox Enterprises enter new diversified growth markets through strategic transactions with Mucci Farms, BrightFarms, Axios, OpenGov, Nexus Circular, and Amplify. In addition, LeTourneau helped Cox Communications enter adjacent growth markets through the acquisitions of Segra, Unite Private Networks, and RapidScale.
Before joining Cox, LeTourneau served as the vice president of corporate development for PGi, an equity analyst for Priderock Management and an investment banking analyst in the M&A group of First Union Securities (formerly Bowles Hollowell Conner & Co.). He earned his MBA from the University of Virginia and holds a bachelor’s degree from Washington and Lee University.
“Cox Automotive is a dynamic business leading the fast-paced automotive industry during a period of significant evolution,” LeTourneau said. “I am honored to join an experienced leadership team and excited to work with the passionate employees across our businesses to bring innovative products, services and solutions to our customers.”
Originally posted on Vehicle Remarketing