SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): May 21, 2003
GROUP 1 AUTOMOTIVE, INC.
(Exact name of Registrant as specified in its charter)
Delaware 1-13461 76-0506313
(State or other jurisdiction of (Commission File Number) (I.R.S. Employer
incorporation or organization) Identification No.)
950 Echo Lane, Suite 100
Houston, Texas 77024
(Address of principal executive offices) (Zip code)
(713) 647-5700
(Registrant's telephone number including area code)
ITEM 9. REGULATION FD DISCLOSURE
On May 21, 2003, Group 1 Automotive, Inc., a Delaware corporation,
announced that at its annual stockholders meeting held today, two directors were
re-elected to serve another three year term. The text of the press release is
set forth below:
NEWS RELEASE GROUP 1 AUTOMOTIVE INC
950 Echo Lane, Suite 100, Houston, TX 77024
AT GROUP 1: Chairman, President and CEO B.B. Hollingsworth, Jr. (713) 647-5700
EVP, CFO and Treasurer Scott L. Thompson (713) 647-5700
Manager, Investor Relations Kim Paper (713) 647-5700
AT Fleishman-Hillard: Investors/Media Russell A. Johnson (713) 513-9515
FOR IMMEDIATE RELEASE
TUESDAY, MAY 21, 2003
GROUP 1 AUTOMOTIVE STOCKHOLDERS RE-ELECT BOARD MEMBERS
HOLLINGSWORTH AND HOWARD TO SERVE ADDITIONAL TERMS
HOUSTON, MAY 21, 2003--GROUP 1 AUTOMOTIVE, INC. (NYSE: GPI), a Fortune 500
specialty retailer, today announced that stockholders have re-elected two
directors for three-year terms and confirmed that one chose not to stand for
re-election bringing the board to seven members, including four outside
directors. The election was held at the Company's annual stockholders' meeting
today.
B.B. Hollingsworth, Jr., 60, Group 1's chairman, president and chief executive
officer, has served in this capacity since March 1997. Prior to joining Group 1,
Mr. Hollingsworth spent 19 years in various positions with Service Corporation
International ("SCI"), which he helped establish as the leading funeral service
company in North America. He served as president and director of SCI from 1975
until his retirement in 1986.
Robert E. Howard II, 56, has served as a director since April 1997. Mr. Howard
also served as platform president of the Bob Howard Auto Group from November
1997 through November 2002. Mr. Howard has more than 32 years of experience in
the automotive retailing industry.
Bennett E. Bidwell, 75, retired chairman of Chrysler Motors Corporation, who was
elected to the board in 1997, decided not to stand for re-election. "Mr.
Bidwell's wise counsel and clear vision will be missed," stated Hollingsworth.
"His experience and demonstrated capabilities contributed significantly to our
success in creating the future in automotive retailing."
ABOUT GROUP 1 AUTOMOTIVE, INC.
Group 1 owns 73 automotive dealerships comprised of 114 franchises, 29 different
brands, and 25 collision service centers located in California, Colorado,
Florida, Georgia, Louisiana, Massachusetts, New Mexico, Oklahoma and Texas.
Through its dealerships and Internet sites, the Company sells new and used cars
and light trucks; arranges related financing, vehicle service and insurance
contracts; provides maintenance and repair services; and sells replacement
parts.
GROUP 1 AUTOMOTIVE CAN BE REACHED ON THE INTERNET AT WWW.GROUP1AUTO.COM
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In accordance with General Instruction B.2. of Form 8-K, the
information contained in such press release shall not be deemed "filed" for
purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be
deemed incorporated by reference in any filing under the Securities Act of 1933,
except as shall be expressly set forth by specific reference in such a filing.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
Group 1 Automotive, Inc.
May 21, 2003 By: /s/ Scott L. Thompson
------------------------------------ ------------------------------
Date Scott L. Thompson, Executive
Vice President, Chief Financial
Officer and Treasurer