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Scott LeTourneau Appointed as Cox Automotive’s New EVP and CFO

Introduction

LeTourneau takes over for Mark Bowser, who will retire from Cox Automotive at the end of the year. The addition of LeTourneau to the leadership team is expected to contribute to the continued growth and success of Cox Automotive in the automotive industry.

Details of the Appointment

Scott LeTourneau will assume the role of executive vice president and chief financial officer at Cox Automotive. His appointment will be effective from September 19, 2023. LeTourneau brings extensive experience in corporate development and finance, having held various roles at Cox since 2012, including senior vice president of corporate development for parent company Cox Enterprises. He has a proven track record in executing strategic corporate transactions and developing diversified growth strategies. In his new role, LeTourneau will oversee all finance functions and the financial solutions business, NextGear Capital.

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Statements from Cox Automotive Executives

Cox Automotive President Steve Rowley expressed his excitement about LeTourneau joining the leadership team, emphasizing his strategic mindset and diverse industry experience. Rowley believes LeTourneau’s addition will further strengthen Cox Automotive’s position as a leader in the automotive industry.

Mark Bowser, the current Chief Financial Officer, will be retiring at the end of the year after a remarkable 41-year career. He has played a pivotal role in the executive leadership team and has been instrumental in driving record revenue growth for Cox Automotive. Bowser and LeTourneau will work together over the next four months to ensure a smooth transition of responsibilities.

Dallas Clement, President and CFO of Cox Enterprises, described LeTourneau as a talented and driven leader. He acknowledged LeTourneau’s ability to build relationships throughout the company, his well-thought-out viewpoints, and his knack for delivering results. Clement also recognized LeTourneau’s contributions to the growth and evolution of Cox Enterprises, expressing confidence in his future impact at Cox Automotive.

Scott LeTourneau’s Career Background

With over 20 years of experience, LeTourneau has established himself as a strategic finance leader focused on executing inorganic growth strategies. He previously served as the senior vice president of Corporate Development for Cox Enterprises, where he led various acquisitions, strategic investments, joint ventures, and divestitures for Cox Enterprises, Cox Automotive, and Cox Communications. Prior to joining Cox Enterprises, LeTourneau held the position of vice president of Corporate Development for Cox Communications.

Throughout his career at Cox, LeTourneau has successfully executed more than 55 strategic transactions with a total deal value surpassing $12 billion. He has been instrumental in helping Cox Enterprises enter new diversified growth markets through strategic transactions, including Mucci Farms, BrightFarms, Axios, OpenGov, Nexus Circular, and Amplify. Furthermore, LeTourneau played a key role in Cox Communications’ expansion into adjacent growth markets through the acquisitions of Segra, Unite Private Networks, and RapidScale.

Prior to joining Cox, LeTourneau held various positions, including vice president of corporate development for PGi, equity analyst for Priderock Management, and investment banking analyst in the M&A group of First Union Securities. He holds an MBA from the University of Virginia and a bachelor’s degree from Washington and Lee University.

Scott LeTourneau’s Thoughts on Joining Cox Automotive

LeTourneau expressed his honor to join the experienced leadership team at Cox Automotive. He emphasized his excitement to collaborate with passionate employees across various businesses within the company and to contribute to the development of innovative products, services, and solutions for customers in the fast-paced automotive industry.

About Cox Automotive

Cox Automotive is globally recognized as the leading provider of automotive services and technology. With access to a massive amount of data generated by 2.3 billion annual online interactions, Cox Automotive delivers tailored solutions for car shoppers, automakers, dealers, retailers, lenders, and fleet owners. The company has a workforce of over 25,000 employees across five continents. Cox Automotive’s family of trusted brands includes Autotrader┬«, Dealertrack┬«, Kelley Blue Book┬«, Manheim┬«, NextGear CapitalÔäó, and vAuto┬«. As a subsidiary of Cox Enterprises Inc., an Atlanta-based company with $22 billion in annual revenue, Cox Automotive continues to drive innovation and excellence in the automotive industry. Connect with Cox Automotive on social media via @CoxAutomotive on Twitter, CoxAutoInc on Facebook, or Cox-Automotive-Inc. on LinkedIn.

This announcement was sourced from Cox Automotive.

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