Toronto, Ontario -- Paul Antony is stepping down as executive chair of AutoCanada, the company has announced in a press release.
In a statement included in a press release provided to media outlets, Antony discussed his accomplishments in the position, which he took over in 2018.
"When I stepped into the executive chair role... AutoCanada was over-levered, operationally constrained, and on the verge of irrelevance," he said."Together, we stabilized the business, returned it to profitability and repositioned it as a resilient, growth-ready platform."
During his tenure, AutoCanada says Anthony strengthened the company's financial position, reduced its debts and rebuilt trust with vehicle manufacturers and other industry partners.
"On behalf of the board of directors, I want to thank Paul for his many years of service and dedication to AutoCanada," said Chris Harris, AutoCanada's lead independent director.
Antony will transition from his role as the MSO's executive chair after the appointment of a new chief executive officer. He will serve in the non-executive director position during a transition period in order to ensure continuity and oversight.
"With the company on solid footing and a talented team in place, now is the right time for the transition and to reclaim time for my family and new initiatives in mobility data, technology, and private investing," Antony added.
"My time leading AutoCanada was among the most intense and rewarding chapters of my career. I'm proud of what we've built and I am excited for what comes next."
The board of directors has already begun a search for a CEO.
AutoCanada's Canadian Operations segment operates 64 franchised dealerships in Canada, comprised of 23 brands, in eight provinces. AutoCanada currently sells Acura, Audi, BMW, Buick, Cadillac, Chevrolet, Chrysler, Dodge, Ford, GMC, Honda, Hyundai, Infiniti, Jeep, Kia, Mazda, Mercedes-Benz, MINI, Nissan, Porsche, Ram, Subaru and Volkswagen branded vehicles.
In addition, AutoCanada's Canadian operations segment currently operates three used digital division dealerships and 12 stand-alone collision centres within its group of 29 collision centres.
