Asbury Automotive Group boosted Chief Executive Craig Monaghan’s pay 20 percent last year, to almost $3.6 million, as the Duluth-based auto dealer saw rising profits and sales in 2012.
A big jump in Monaghan’s 2012 bonus, to $1 million from $705,000 the previous year, helped boost the 56-year-old CEO’s total compensation from just under $3 million the previous year, according to a proxy statement the company filed Friday with the U.S. Securities and Exchange Commission.
Monaghan’s 2012 compensation also included a $750,000 salary, $1.7 million in stock awards, and perks totaling $20,915.
Asbury is one of the nation’s largest auto dealers, operating in 77 locations.
Last month Monaghan predicted rising auto sales for 2013, partly due to continued low interest rates and the aging of most consumers’ vehicles.
The auto dealer said its profits rose 21 percent in 2012, to $82.2 million, while sales for the year were up 12 percent, to $4.6 billion.
About the Author
