Group 1 Automotive Welcomes Benjamin Hart to Its Board of Directors as They Expand Leadership

Group 1 Automotive Welcomes Benjamin Hart to Its Board of Directors

In a significant development for the automotive retail industry, Group 1 Automotive, Inc. (NYSE: GPI) announced today that Benjamin Hart will be joining its Board of Directors starting November 1, 2026. This appointment follows a strategic decision to expand the board from ten to eleven members, a move intended to incorporate diverse insights and perspectives from one of the company’s largest shareholders, Conifer Management L.L.C.

The news was revealed by Charles Szews, Group 1's Non-Executive Chair of the Board, who expressed enthusiasm about Hart's addition. "We are very pleased to welcome Ben to our Board. Considering our shareholders' perspectives is central to how our Board operates, and we believe there is real value in having the viewpoint of one of our largest long-term shareholders represented directly in the boardroom. We appreciate the constructive engagement we have had with Conifer and look forward to Ben's contributions as we continue to execute our strategy," Szews noted.

Benjamin Hart is not just a new appointment but an experienced financier, currently serving as a member of the investment team for Acacia funds managed by Conifer, making him well-versed in the dynamics and opportunities within the industry. Daryl Kenningham, Group 1's President and CEO, remarked on the long-standing relationship they share with Conifer, emphasizing how Hart's input, honed through years of thoughtful feedback, will enrich the board's approach to steering the company toward future opportunities.

"Ben Hart and Conifer have been valued investors in Group 1 for many years, and we've developed a close relationship built on mutual respect and open dialogue," Kenningham stated. Hart brings nearly two decades of investment expertise to the table, having previously held roles as a Portfolio Manager at Glenville Capital Management and a Senior Research Analyst at The Haverford Trust Company. His experience extends to serving on the board of CelLBxHealth, a UK-based diagnostics firm, indicating his robust background in health and technology sectors, essential intersections for the evolving automotive industry.

Upon joining the board, Hart conveyed his gratitude for the opportunity, underscoring the strength of Group 1's business model and the foundational management team's capabilities. He stated, "I am honored to join the Group 1 Board. Conifer is a long-term shareholder of Group 1 because we believe in the strength of its business, its thoughtful and operationally intensive management team, and the significant opportunities that lie ahead. I look forward to working with my fellow directors and the management team to help capture those opportunities and drive long-term value for all of Group 1's shareholders."

Hart's appointment stems from a stockholder agreement between Group 1 and Conifer, which includes a series of customary provisions regarding standstill, voting, confidentiality, and other terms. This deal not only signifies trust-building between the Board and its shareholders but exemplifies an evolving corporate governance model that values direct input from significant investors.

Group 1 Automotive operates 249 dealerships across the U.S. and the U.K., showcasing a diverse array of 37 global automobile brands. The company’s business encompasses the sale of both new and used vehicles, and it also engages in associated services such as financing arrangements, service contracts, and maintenance.

As the automotive market grapples with evolving challenges, including inflation, trade policies, and rapid technological advancements, Hart's expertise could provide vital insights into navigating these hurdles. His focus will likely align with expanding Group 1's market presence while prioritizing shareholder value.

The automotive industry is at a crossroads, with electric vehicles gaining prominence and consumer preferences shifting. The strategic inclusion of Hart on the board signals Group 1 Automotive's commitment to enhancing its leadership further, positioning the company for robust growth amid a rapidly changing landscape.

In conclusion, the addition of Benjamin Hart to Group 1 Automotive's Board epitomizes a forward-thinking approach to corporate governance, aiming at fostering better representation of shareholder interests. With experienced leaders at the helm, Group 1 is set to drive continued success in the competitive automotive market.