Lithia Motors, Inc. (NYSE:LAD) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02. Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers On February 23, 2017, Shau-Wai Lam announced that he would be retiring from Lithia’s Board of Directors at the completion of his term on April 19, 2017. As a result, Lithia will reduce the size of its Board from seven to six directors. A press release is furnished as Exhibit 99.1.
Item 9.01. Financial Statements and Exhibits
(d) Exhibits 99.1 Press Release of Lithia Motors, Inc. dated February 27, 2017
About Lithia Motors, Inc. (NYSE:LAD)
Lithia Motors, Inc. is an operator of automotive franchises and a retailer of new and used vehicles and services. The Company operates in three segments: Domestic, Import and Luxury. Its Domestic segment consists of retail automotive franchises that sell new vehicles of Chrysler, General Motors and Ford. Its Import segment consists of retail automotive franchises that sell new vehicles manufactured primarily by Honda, Toyota, Subaru, Nissan and Volkswagen. Its Luxury segment consists of retail automotive franchises that sell new vehicles of BMW, Mercedes-Benz and Lexus. Its franchises in each segment sell used vehicles, parts and automotive services, and automotive finance and insurance products. Its operations involve the use, handling, storage and contracting for recycling and disposal of materials, such as motor oil and filters, transmission fluids, antifreeze, refrigerants, paints, thinners, batteries, cleaning products, lubricants, degreasing agents, tires and fuel. Lithia Motors, Inc. (NYSE:LAD) Recent Trading Information
Lithia Motors, Inc. (NYSE:LAD) closed its last trading session up +0.31 at 98.87 with 224,392 shares trading hands.
