Penske Automotive Group, Inc. Announces Directorate Changes
December 17, 2021 at 09:15 am EST
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Penske Automotive Group, Inc. announced that on December 16, 2021, Masashi Yamanaka resigned from the Board of Directors and the Board of Directors filled the vacancy created by Yamanakas resignation by appointing Kota Odagiri as a director. Odagiri is an employee of Mitsui and has spent the last 29 years with Mitsui and its affiliates in various capacities, most recently serving as the Chairman and Managing Director of Bussan Auto Finance India Pvt. Ltd. from April 2020 to December 2021. From March 2019 to March 2020, he served as Deputy Managing Director of India Yamaha Motor Pvt. Ltd. and from April 2017 to February 2019, he served as General Manager, Group Management Framework Department in Mitsuis First Motor Vehicles Division. From January 2015 to March 2017, he served as General Manager, Yamaha Business Department in Mitsuis Third Motor Vehicles Division. Mr. Odagiri will not receive any compensation from the Company for serving as its director.
Penske Automotive Group, Inc. is a diversified international transportation services company. The Company is also engaged in automotive and commercial truck retailing. The Company operates dealerships in the United States, the United Kingdom, Canada, Germany, Italy, and Japan and retailers of commercial trucks in North America for freightliner. The Company operates through four segments: Retail Automotive, Retail Commercial Truck, Other, and Non-Automotive Investments. The Retail Automotive segment consists of its retail automotive dealership operations. The Retail Commercial Truck segment consists of its retail commercial truck dealership operations in the United States and Canada. The Other segment consists of its commercial vehicle and power system distribution operations. The Non-Automotive Investments segment consists of its equity method investments in non-automotive operations, which includes its investment in Penske Transportation Solutions (PTS) and various other investments.