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AutoNation said COO Lance Iserman and Chief Technology Officer Tom Conophy will leave effective immediately, while its chief human resource officer, Dennis Berger, will leave at the end of the month. Fort Lauderdale, Florida-based AutoNation appointed company veteran James Bender as executive vice president of sales. It also said Donna Parlapiano, executive vice president, franchise network, merger & acquisitions, and corporate real estate, elected to retire on Jan. 3. The restructuring comes as analysts forecast a dip in U.S customised cufflinks delhi. vehicle sales this year. New vehicle sales in the United States are expected to drop as higher interest rates and rising prices could prompt customers to hold off their car-buying plans, the National Automobile Dealers Association said last month..
Recently, the company introduced a used-car subscription service from auto-leasing startup Fair through its network of more than 300 U.S. dealers customised cufflinks delhi. In October, CEO Mike Jackson told Reuters the company planned to reduce investment following an “elevated period of brand extension investment” in higher-margin service and used car operations to offset the squeeze on profits from new vehicle sales. AutoNation did not immediately respond to a query about any potential job cuts due to the restructuring..
MOSCOW/WASHINGTON (Reuters) – The U.S. Treasury believes it can curb the influence of Oleg Deripaska over aluminum giant Rusal despite concerns the Russian oligarch may still be able to pull the strings of his business empire from behind the scenes. Rusal and its parent company En+ were hit with U.S. sanctions in April when Washington blacklisted billionaire Deripaska along with several other influential Russians because of their ties to Russian President Vladimir Putin. After months of negotiations, Deripaska agreed in late 2018 to reduce his stake in En+ to 44.95 percent from 70 percent in a deal with the U.S customised cufflinks delhi. Treasury Department that allowed the punitive measures against Rusal and En+ to be lifted..
While the announcement was a relief to major companies that depend on aluminum, U.S. congressional Democrats demanded further legislation to ensure that Deripaska abides by the deal ‘in letter and in spirit’. They believe U.S. President Donald Trump let Deripaska off the hook following intense lobbying by some European companies and governments worried about the impact of high aluminum prices and the fate of workers at Rusal’s operations in Europe. While the voting rights in En+ under Deripaska’s control are now capped at 35 percent, votes controlled by potential allies could boost that percentage above 50 and allow the Russian tycoon to influence strategic decisions customised cufflinks delhi.
Under the new structure, Deripaska’s long-term partner Glencore, a Swiss-based commodities trading company, gets 10.55 percent of the votes while Kremlin-controlled bank VTB holds onto 7.35 percent, according to the voting structure published by En+ customised cufflinks delhi. As part of the deal, four U.S.-nominated independent trustees now control the voting rights for another 37.7 percent of En+ shares held by Deripaska, former family members, his charitable foundation, VTB and some other shareholders. The remaining votes in En+, which will have a 56.9 percent stake in Rusal once the ownership restructuring is complete, are controlled by institutional and retail investors..