Duluth, Ga. - Asbury Automotive Group Inc., as part of its long-term executive succession planning process, announced that Senior Vice President and Chief Financial Officer Scott Krenz will retire from the position of Chief Financial Officer, effective December 31, 2013. Current Vice President of Finance Keith Style has been appointed to succeed him, effective January 1, 2014.

Craig T. Monaghan, Asbury's president and CEO, said, "We thank Scott for his valuable service to Asbury. He has been instrumental in Asbury's delivery of significant value to our shareholders during his tenure, and we are pleased that he has agreed to remain with the company for a transitional period."

Krenz stated, "I want to thank Craig and the Board for the opportunity to work with a great team. As I retire to pursue some long-delayed personal goals, I am confident the company has the right team in place to drive its continued success."

Style joined the company in October 2003, and has held several positions during his time with Asbury, having served as vice president of finance since November 2008, during which time he has been overseeing the company's operational financial functions, management reporting and process improvement initiatives. Prior to that, he served as the company's vice president of investor relations, director of budgeting & forecasting, and assistant controller. He holds a B.A. in Economics and Business from Lafayette College, and began his career in public accounting.

Monaghan continued, "We are excited for Keith to transition into this new role with Asbury. He is an industry veteran with tremendous breadth and depth of knowledge of Asbury, and I look forward to his continued contributions as a member of our senior management team."