Group 1 Automotive (GPI) Appoints New Chairman of the Board

Group 1 Automotive, Inc. (NYSE: GPI) ("Group 1" or the "Company"), an international, Fortune 300 automotive retailer with 206 dealerships located in the U.S. and U.K., today announced that Charles Szews has been elected to serve as non-executive chairman of its Board of Directors. Mr. Szews has served as a director of the Company since 2016, and currently serves on the Board of Directors, the Audit Committee, and chairs the Finance/Risk Management Committee. In addition, Mr. Szews serves on the Nominating and Corporate Governance Committee and chairs the Audit Committee for Commercial Metals Company. He succeeds Stephen D. Quinn, whose term spanned six years. Mr. Quinn has been a director of the Company since 2002 and will continue to serve on the Board and each of its committees. The transition is the result of the board's governance policy to rotate the non-executive chairman.

"We want to thank Steve for serving as non-executive chairman for the past six years. His insight and experience in assessing business strategies and risks has been integral to the Company for the past 21 years," said Daryl Kenningham, Group 1's President and Chief Executive Officer. "We now welcome Charles to the role of non-executive Chairman and believe his extensive background in corporate finance, accounting and operations, make him a great choice as the new chairman."

The Company also announced that the board of directors declared a $0.45 dividend per share that will be payable on June 15, 2023, to stockholders of record as of June 1, 2023. The dividend is consistent with the Company's previously announced increase of 20% in its annualized dividend rate from $1.50 per share in 2022 to $1.80 per share in 2023.

"Growing our business while also returning capital to our shareholders remain our top capital allocation priorities. Our strong cash flow and balance sheet continue to enable the Company to deploy capital and reward shareholders," said Daryl Kenningham, Group 1's President and Chief Executive Officer.

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