Penske Automotive Group Management

Management criteria checks 3/4

We currently do not have sufficient information about the CEO.

Key information

Roger Penske

Chief executive officer

US$7.4m

Total compensation

CEO salary percentage	21.5%
CEO tenure	25yrs
CEO ownership	0.4%
Management average tenure	11.8yrs
Board average tenure	18.7yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Roger Penske's remuneration changed compared to Penske Automotive Group's earnings?
Date	Total Compensation	Salary	Company Earnings
Mar 31 2024	n/a	n/a	US$970m
Dec 31 2023	US$7m	US$2m	US$1b
Sep 30 2023	n/a	n/a	US$1b
Jun 30 2023	n/a	n/a	US$1b
Mar 31 2023	n/a	n/a	US$1b
Dec 31 2022	US$7m	US$2m	US$1b
Sep 30 2022	n/a	n/a	US$1b
Jun 30 2022	n/a	n/a	US$1b
Mar 31 2022	n/a	n/a	US$1b
Dec 31 2021	US$7m	US$1m	US$1b
Sep 30 2021	n/a	n/a	US$1b
Jun 30 2021	n/a	n/a	US$968m
Mar 31 2021	n/a	n/a	US$674m
Dec 31 2020	US$6m	US$700k	US$543m
Sep 30 2020	n/a	n/a	US$445m
Jun 30 2020	n/a	n/a	US$314m
Mar 31 2020	n/a	n/a	US$387m
Dec 31 2019	US$7m	US$1m	US$436m
Sep 30 2019	n/a	n/a	US$432m
Jun 30 2019	n/a	n/a	US$446m
Mar 31 2019	n/a	n/a	US$463m
Dec 31 2018	US$7m	US$1m	US$471m
Sep 30 2018	n/a	n/a	US$703m
Jun 30 2018	n/a	n/a	US$667m
Mar 31 2018	n/a	n/a	US$638m
Dec 31 2017	US$7m	US$1m	US$614m

Compensation vs Market: Roger's total compensation ($USD7.43M) is above average for companies of similar size in the German market ($USD5.55M).

Compensation vs Earnings: Roger's compensation has been consistent with company performance over the past year.

CEO

Roger Penske (86 yo)

25yrs

Tenure

US$7,428,439

Compensation

Mr. Roger S. Penske, Sr., has been Chairman of the Board and President of Pennsylvania International Raceway, Inc. since 1986. He serves as Managing Director at Transportation Resource Partners III, L.P. H...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Roger Penske	Chairman & CEO	25yrs	US$7.43m	0.42% $ 39.4m
Robert Kurnick	President & Director	16.1yrs	US$2.14m	0.13% $ 12.7m
Michelle Hulgrave	Executive VP & CFO	2.9yrs	US$1.54m	0.034% $ 3.3m
Shane Spradlin	Executive VP	20.2yrs	US$1.74m	0.064% $ 6.1m
Claude Denker	Executive Vice President of Human Resources	8.8yrs	US$1.68m	0.061% $ 5.8m
Richard Hook	Executive VP & Chief Information Officer	9yrs	no data	no data
Anthony Pordon	Executive Vice President of Investor Relations & Corporate Development	no data	no data	no data
Tracy Cassady	Executive VP & Chief Marketing Officer	3.8yrs	no data	no data
George Brochick	Executive Vice President of Strategic Development	21.4yrs	no data	no data
Bernie Wolfe	Executive Vice President of Western Region U.S Operations	16.2yrs	no data	no data
Gerard Nieuwenhuys	Chairman of the Sytner Group	9.7yrs	no data	no data
John Cragg	Executive Vice President of Eastern U.S Operations	11.8yrs	no data	no data

11.8yrs

Average Tenure

59yo

Average Age

Experienced Management: UA9's management team is seasoned and experienced (11.8 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Roger Penske	Chairman & CEO	25yrs	US$7.43m	0.42% $ 39.4m
Robert Kurnick	President & Director	18yrs	US$2.14m	0.13% $ 12.7m
Gerard Nieuwenhuys	Chairman of the Sytner Group	9.7yrs	no data	no data
Michael Eisenson	Director	30.4yrs	US$380.00k	0.12% $ 11.6m
Ronald Steinhart	Independent Director	23.2yrs	US$385.53k	0.076% $ 7.2m
Gregory Penske	Vice Chairman of the Board	4yrs	US$430.00k	0.076% $ 7.2m
John Barr	Independent Director	21.4yrs	US$360.00k	0.0011% $ 101.6k
Gregory Smith	Independent Director	6.8yrs	US$405.00k	0% $ 0
H. Thompson	Lead Independent Director	22.2yrs	US$409.08k	0.17% $ 16.2m
Kimberly McWaters	Independent Director	19.4yrs	US$408.19k	no data
Sandra Pierce	Director	11.4yrs	US$387.48k	0.034% $ 3.2m
Lisa Davis	Independent Director	7yrs	US$386.17k	0.0024% $ 227.0k

18.7yrs

Average Tenure

65.5yo

Average Age

Experienced Board: UA9's board of directors are seasoned and experienced ( 18.7 years average tenure).

Penske Automotive Group Management

Management criteria checks 3/4

Key information

Recent management updates

Penske Automotive Group, Inc., Annual General Meeting, May 09, 2024

Director recently sold €1.2m worth of stock

President & Director recently sold €1.7m worth of stock

Executive VP recently sold €433k worth of stock

Independent Director recently sold €1.1m worth of stock

Independent Director recently sold €275k worth of stock

Recent updates

First quarter 2024 earnings released: EPS: US$3.21 (vs US$4.31 in 1Q 2023)

Penske Automotive Group, Inc. to Report Q1, 2024 Results on Apr 30, 2024

Penske Automotive Group, Inc. (NYSE:PAG) agreed to acquire Two Porsche Dealerships and One Ducati Dealership in Melbourne

Now 20% overvalued

Penske Automotive Group, Inc., Annual General Meeting, May 09, 2024

Full year 2023 earnings released: EPS: US$15.49 (vs US$18.55 in FY 2022)

Upcoming dividend of US$0.87 per share at 2.1% yield

Penske Automotive Group, Inc. to Report Q4, 2023 Results on Feb 07, 2024

Third quarter dividend of US$0.87 announced

Penske Automotive Group, Inc. Approves Quarterly Dividend, Payable on March 1, 2024

Director recently sold €1.2m worth of stock

Upcoming dividend of US$0.79 per share at 2.1% yield

Third quarter 2023 earnings released: EPS: US$3.91 (vs US$4.61 in 3Q 2022)

New major risk - Revenue and earnings growth

Penske Automotive Group, Inc. Announces Quarterly Dividend, Payable on December 1, 2023

Penske Automotive Group, Inc. to Report Q3, 2023 Results on Oct 25, 2023

President & Director recently sold €1.7m worth of stock

Penske Automotive Group, Inc. (NYSE:PAG) acquired BMW of Wilmington And Porsche Wilmington from Baker Motor Company, Inc.

Upcoming dividend of US$0.72 per share at 1.8% yield

Second quarter 2023 earnings released: EPS: US$4.41 (vs US$4.93 in 2Q 2022)

Penske Automotive Group, Inc. to Report Q2, 2023 Results on Jul 26, 2023

Penske Automotive Group, Inc. (NYSE:PAG) acquired Transolutions Truck Centres.

Executive VP recently sold €433k worth of stock

Penske Automotive Group, Inc. (NYSE:PAG) acquired Transolutions Truck Centres.

Now 21% undervalued after recent price drop

Independent Director recently sold €1.1m worth of stock

First quarter 2023 earnings released: EPS: US$4.31 (vs US$4.76 in 1Q 2022)

Independent Director recently sold €275k worth of stock

Executive VP recently sold €615k worth of stock

Full year 2022 earnings released: EPS: US$18.55 (vs US$14.88 in FY 2021)

Upcoming dividend of US$0.61 per share at 1.9% yield

Penske Automotive Group, Inc. to Report Q4, 2022 Results on Feb 08, 2023

Penske Automotive Group, Inc. Increase's Quarterly Dividend, Payable March 1, 2023

Now 23% undervalued after recent price drop

Upcoming dividend of US$0.57 per share

Third quarter 2022 earnings released: EPS: US$4.61 (vs US$4.46 in 3Q 2021)

Penske Automotive Group, Inc. Increases Dividend, Payable on December 1, 2022

Penske Automotive Group, Inc. to Report Q3, 2022 Results on Oct 26, 2022

Independent Director recently sold €569k worth of stock

Upcoming dividend of US$0.53 per share

Second quarter 2022 earnings released: EPS: US$4.93 (vs US$4.20 in 2Q 2021)

Penske Automotive Group, Inc. (NYSE:PAG) agreed to acquire Five Mercedes-Benz dealerships and three aftersales locations in North London from Mercedes-Benz Retail Group UK Limited.

Penske Automotive Group Announces Dividend Increase, payable on September 1, 2022

Penske Automotive Group, Inc. to Report Q2, 2022 Results on Jul 27, 2022

President & Director recently sold €1.1m worth of stock

Penske Automotive Group, Inc. Declares Dividend, Payable June 1, 2022

Penske Automotive Group, Inc. (NYSE:PAG) acquired Terry Lee Hyundai and Genesis Dealership in Noblesville, Indiana from Terry Lee.

Penske Automotive Group, Inc. (NYSE:PAG) acquired Terry Lee Hyundai and Genesis Dealership in Noblesville, Indiana.

First quarter 2022 earnings released: EPS: US$4.77 (vs US$2.26 in 1Q 2021)

Penske Automotive Group, Inc. to Report Q1, 2022 Results on Apr 27, 2022

Penske Automotive Group, Inc. (NYSE:PAG) acquired BMW/MINI Dealership and a Collision Center in Escondido, California.

Now 22% undervalued after recent price drop

Penske Automotive Group, Inc. (NYSE:PAG) acquired Team Truck Centres Ltd.

Now 21% undervalued after recent price drop

Full year 2021 earnings: Revenues and EPS in line with analyst expectations

Upcoming dividend of US$0.47 per share

Penske Automotive Group, Inc. (NYSE:PAG) acquired Erhard Motor Sales, Inc.

Upcoming dividend of US$0.46 per share

Third quarter 2021 earnings released: EPS US$4.42 (vs US$3.07 in 3Q 2020)

Chairman & CEO recently sold €1.9m worth of stock

President & Director recently sold €568k worth of stock

Upcoming dividend of US$0.45 per share

Second quarter 2021 earnings released: EPS US$4.20 (vs US$0.56 in 2Q 2020)

Penske Automotive Group, Inc. Provides Earnings Guidance for the Three Months Ended June 30, 2021

Penske Automotive Group, Inc. (NYSE:PAG) acquired Mercedes-Benz of South Charlotte.

President & Director recently sold €597k worth of stock

Executive VP & CFO has left the company

Penske Automotive Group, Inc. Announces Dividend, Payable on June 2, 2021

Independent Director recently sold €382k worth of stock