-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, I+e02PmKR69vD83CbN8A+8E/cCKBMTWPOgjATAc6QOuyHBJWrpYRvy5E9uDKvzI/ qwunoeyx0WKkyyEwKIPqNw== 0000950168-02-003422.txt : 20021114 0000950168-02-003422.hdr.sgml : 20021114 20021114162525 ACCESSION NUMBER: 0000950168-02-003422 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20021114 ITEM INFORMATION: Other events FILED AS OF DATE: 20021114 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SONIC AUTOMOTIVE INC CENTRAL INDEX KEY: 0001043509 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-AUTO DEALERS & GASOLINE STATIONS [5500] IRS NUMBER: 562010790 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-13395 FILM NUMBER: 02825348 BUSINESS ADDRESS: STREET 1: 5401 EAST INDEPENDENCE BLVD STREET 2: PO BOX 18747 CITY: CHARLOTTE STATE: NC ZIP: 28212 BUSINESS PHONE: 7045323354 MAIL ADDRESS: STREET 1: 5401 EAST INDEPENDENCE BLVD CITY: CHARLOTTE STATE: NC ZIP: 28212 8-K 1 d8k.txt FORM 8-K FOR SONIC AUTOMOTIVE ================================================================================ SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ------------------------- FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of report (Date of earliest event reported): November 14, 2002 ----------------- SONIC AUTOMOTIVE, INC. -------------------------------------------------- (Exact Name of Registrant as Specified in Charter) Delaware ---------------------------------------------- (State or Other Jurisdiction of Incorporation) 1-13395 56-201079 (Commission File Number) (I.R.S. Employer Indentification No.) 5401 E. Independence Boulevard Charlotte, North Carolina 28212 (Address of Principal Executive Offices) (Zip Code) Registrant's telephone number, including area code: (704) 566-2400 ================================================================================ Item 5. Other Events On November 14, 2002, we issued a press release announcing the promotion of certain members of our senior management. A copy of the press release is attached hereto as Exhibit 99.1. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this current report on Form 8-K to be signed on its behalf by the undersigned hereunto duly authorized. SONIC AUTOMOTIVE, INC. By: /s/ Theodore M. Wright ------------------------------------- Theodore M. Wright President and Chief Financial Officer Dated: November 14, 2002 2 EX-99.1 3 dex991.txt PRESS RELEASE Exhibit 99.1 [GRAPHIC APPEARS HERE] FOR IMMEDIATE RELEASE 5401 E. Independence Blvd. Charlotte, NC 28212 704-532-3320; 704-536-5116 (Fax) SONIC AUTOMOTIVE, INC. ANNOUNCES SENIOR MANAGEMENT PROMOTIONS CHARLOTTE, NC (November 14, 2002) - Sonic Automotive, Inc. (NYSE: SAH), a Fortune 300 company, today announced that its Board of Directors unanimously appointed B. Scott Smith to the position of Vice Chairman and Chief Strategic Officer, Theodore M. Wright to the position of President, and Jeffrey C. Rachor to the position of Executive Vice President and Chief Operating Officer. Mr. Wright will continue in the role of Chief Financial Officer until the Company identifies a replacement Chief Financial Officer. O. Bruton Smith, the Company's Chairman and Chief Executive Officer stated, "All of these gentlemen have demonstrated their commitment to our Company and have been critical to its sustained success. The announced enhancements to our management structure will provide the foundation for continued growth of the Company. These changes will also support the evolution of our senior management team and help us to fulfill our vision of becoming one of the largest U.S. retailers and a world class provider of automotive retailing sales and service." Mr. Scott Smith, Mr. Wright and Mr. Rachor all joined the Company prior to its late 1997 initial public offering. The Company has grown from 5 dealerships and 6 franchises at June 30, 1997 to 137 dealerships and 188 franchises at October 29, 2002. Earnings per share have grown from $0.53 for the year ended December 31, 1997 to $2.47 for the twelve months ended September 30, 2002, and the Company's share price has appreciated 157% since its initial public offering, compared to a decline in S&P 500 of 5.9% over this time period. The Company is currently the third largest automobile retailer in the United States. In his new role, Mr. Scott Smith will be principally responsible for developing the Company's strategic vision and long-term strategic planning. Mr. Wright will continue in his current responsibilities and will also assume responsibility for automobile manufacturers' relations and dealership market representation activities. Mr. Rachor will assume full responsibility for the Company's operations. All of the described positions will report to Mr. O. Bruton Smith, the Company's Chairman and Chief Executive Officer. "These promotions recognize long-term contributions to our Company and the ability to lead. Our Company will further strengthen its financial and operations functions, while allowing more time and attention to the development of our long-term, strategic vision for the Company. We will be positioned to continue our growth for the long-term while continuing to deliver outstanding returns to shareholders," stated Mr. O. Bruton Smith. Mr. Theodore M. Wright has been the Chief Financial Officer, Executive Vice President of Sonic since April 1997, and a Sonic director since June 1997. Before joining Sonic, Mr. Wright was a Senior Manager and in charge of the Columbia, South Carolina office of Deloitte & Touche LLP. Before joining the Columbia office, Mr. Wright was a Senior Manager in Deloitte & Touche LLP's National Office Accounting Research and SEC Services Departments from 1994 to 1995. From 1992 to 1994, Mr. Wright was an audit manager with Deloitte & Touche LLP. Mr. Jeffrey C. Rachor originally joined Sonic as its Regional Vice President - Mid-South region upon Sonic's 1997 acquisition of dealerships in Chattanooga, Tennessee. He was subsequently promoted to Executive Vice President of Retail Operations and joined the Board of Directors of the Company in 1999. Mr. Rachor has over 19 years experience in the automobile industry and was the Chief Operating Officer of the Chattanooga dealerships from 1989 until their acquisition by Sonic in 1997. During this period, Mr. Rachor has also served at various times as the Dealer Operator of Toyota, Saturn and Chrysler-Jeep dealerships. Before then, Mr. Rachor held a variety of sales and marketing positions with General Motors and American Suzuki Motor Corporation. In addition to the previously described promotions, the Company announced the appointment of two Senior Vice Presidents. Mr. Mark J. Iuppenlatz and Mr. David E. Plummer were promoted to Senior Vice President. Mr. Iuppenlatz has served as Vice President, Corporate Development since 1999 and Mr. Plummer served as Vice President, Divisional Controller for 2000 and 2001 and has served as Vice President, Corporate Controller since January 2002. Mr. Bruton Smith stated, "We're pleased to announce these deserved promotions. Mr. Iuppenlatz and Mr. Plummer have demonstrated leadership skills and have contributed to our growth." About Sonic Automotive, Inc. Sonic Automotive, Inc., a Fortune 300 Company, is one of the largest automotive retailers in the United States operating 188 franchises and 42 collision repair centers. Sonic can be reached on the Web at www.sonicautomotive.com. Contact: Theodore M. Wright, President of Sonic Automotive, Inc. (704) 532-3347. J. Todd Atenhan, Investor Relations of Sonic Automotive, Inc. (888) 766-4218. Bill Steers, Media Relations of Sonic Automotive, Inc. (888) 766-4219. -----END PRIVACY-ENHANCED MESSAGE-----