Cheryl Miller has resigned as CEO of AutoNation Inc. pursuing a a few-month medical leave, while the auto retail large has extended Mike Jackson’s contract to direct the business by April 12, 2022.
Miller, who had been CEO for much less than a year, is the second chief govt to walk absent from AutoNation due to the fact 2019 with a huge payout. Miller stands to receive a severance of much more than $five.four million compensated in 48 payments, an undetermined prorated once-a-year reward payment for 2020 and much more than $21,000 to protect wellbeing, dental and eyesight insurance for eighteen months as very long as she complies with problems in her separation agreement, in accordance to a regulatory filing late Tuesday.
Moreover, Miller will be treated as “retirement” eligible for 70,098 restricted stock units that she was granted in March 2019 and August 2019, but all other