Cox Automotive announced that Scott LeTourneau will become its new executive vice president and chief financial officer, effective September 19, 2023. LeTourneau has been with Cox since 2012 in various corporate development roles, most recently serving as senior vice president of corporate development for parent company Cox Enterprises. He is a proven finance leader with deep expertise in executing strategic corporate transactions and developing diversified growth strategies. At Cox Automotive, LeTourneau will have responsibility for all finance functions and the company’s financial solutions business, NextGear Capital.
“I am excited to add Scott LeTourneau to our outstanding leadership team at Cox Automotive,” said Steve Rowley, president, Cox Automotive. “He is a strategic leader with an operator’s mindset and his experience with a variety of industries and business models will help us continue to lead the automotive industry and grow long into the future. We all look forward to seeing the impact he will make on this incredible business.”
As previously announced, current Chief Financial Officer Mark Bowser will retire at the end of this year. He concludes an incredible 41-year career, including an 11-year run at Cox Communications and six years as chief financial officer for Cox Automotive. Mark has been a key member of the Cox Automotive executive leadership team and has helped lead record revenue growth during his time with the company. He and LeTourneau will work together for the next four months to ensure a smooth transition.
“Scott is a talented, driven and knowledgeable leader,” said Dallas Clement, president and chief financial officer, Cox Enterprises. “He has a history of building relationships across the company, always comes to the table with a well-thought-out point of view, and simply put, has a knack for getting things done. He has played a critical role in the growth and evolution of our business at Cox Enterprises, and I look forward to seeing his impact at Cox Automotive.”
Over his 20-plus year career, LeTourneau has been a strategic finance leader focused on the development and execution of inorganic growth strategies. Previously, he served as senior vice president of Corporate Development for Cox Enterprises where he led the execution of acquisitions, strategic investments, joint ventures and divestitures for Cox Enterprises, Cox Automotive and Cox Communications. Prior to joining Cox Enterprises, LeTourneau served as vice president of Corporate Development for Cox Communications.
Since joining Cox in 2012, LeTourneau has executed more than 55 strategic transactions with an aggregate deal value of more than $12 billion. He has helped Cox Enterprises enter new diversified growth markets through strategic transactions with Mucci Farms, BrightFarms, Axios, OpenGov, Nexus Circular and Amplify. In addition, LeTourneau helped Cox Communications enter adjacent growth markets through the acquisitions of Segra, Unite Private Networks and RapidScale.
Prior to joining Cox, LeTourneau served as the vice president of corporate development for PGi, an equity analyst for Priderock Management and an investment banking analyst in the M&A group of First Union Securities formerly Bowles Hollowell Conner & Co. He earned his MBA from the University of Virginia and holds a bachelor’s degree from Washington and Lee University.
“Cox Automotive is a dynamic business that is leading the fast-paced automotive industry during a period of significant evolution,” said Scott LeTourneau, EVP and chief financial officer of Cox Automotive. “I am honored to join an experienced leadership team and excited to work with the passionate employees across our businesses to bring innovative products, services and solutions to our customers.”
SOURCE : PRNewswire