Earl J. Hesterberg, born on September 12, 1950, holds a Bachelor's degree in Business Administration from the University of Michigan. He has been the CEO of Group 1 Automotive since 2006. Under his leadership, the company has focused on performance-based...
Earl J. Hesterberg, born on September 12, 1950, holds a Bachelor's degree in Business Administration from the University of Michigan. He has been the CEO of Group 1 Automotive since 2006. Under his leadership, the company has focused on performance-based incentives to boost shareholder value. Hesterberg’s compensation is tied closely to company performance, reflecting a philosophy that links pay to results. In 2022, his total compensation reached approximately $8.7 million, consisting of salary, bonuses, and stock awards. Interestingly, Hesterberg was given 120,000 shares of restricted stock when he signed a new five-year employment agreement in 2010. These shares vest gradually, encouraging him to stay with the company. Also notable is his use of personal aircraft for company-related purposes, signifying a common practice amongst CEOs but also highlighting the perks of top leadership positions. Hesterberg is invested in his company’s long-term success, as evidenced by his substantial stock holdings, which reinforce a commitment to aligning his interests with those of shareholders. His hands-on approach melds well with a focus on efficiency and driving growth in the automotive sector.