AutoNation expands board, appoints 2 new independent directors to fill seats

AutoNation names 2 new directors

FORT LAUDERDALE, Fla. — AutoNation Inc. said Wednesday that it appointed two new finance executives to its board of directors.

The nation’s largest auto retailer said the addition of Michael Larson and Robert J. Brown will bring its board to ten members.

Larson is the business manager for Cascade Investment LLC, an investment company wholly owned by Microsoft Corp. co-founder Bill Gates. He’s also Gates’ chief investment officer.

Larson will be an independent director on the board, although Cascade and the Bill & Melinda Gates Foundation own a combined 13 percent stake in AutoNation.

Brown, another independent director, is chairman and CEO of consulting and market research firm B&C Associates Inc. He spent more than 10 years as an AutoNation board member beginning in 1997.

The appointments are effective immediately.

AutoNation shares rose 11 cents to close at $18.13.