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2 of 3 Premium Clicks used this month SUBSCRIBE Print + Online Subscriber Activation | Register x Forgot Password | Need an Account? e-edition | subscribe | newsletter | deals Classifieds Jobs Autos Real Estate FEATURED » NEWS NOW Since You Asked: Canned corn OK for fishing, not for chumming ... Last hours of armed standoff play out online for listeners ... UPDATED: Oregon Senate approves bill to increase minimum wage ... Since You Asked: Canned corn OK for fishing, not for chumming ... Last hours of armed standoff play out online for listeners ... UPDATED: Oregon Senate approves bill to increase minimum wage ... Lithia CEO turns over the wheel as sales soar On the heels of a record-setting fourth-quarter performance and its highest revenue year since 2006, Lithia Motors is making changes at the top. Comment By GREG STILES MailTribune.com By GREG STILES Posted Feb. 23, 2012 at 12:01 AM Updated Feb 23, 2012 at 2:32 AM By GREG STILES Posted Feb. 23, 2012 at 12:01 AM Updated Feb 23, 2012 at 2:32 AM » Social News On the heels of a record-setting fourth-quarter performance and its highest revenue year since 2006, Lithia Motors is making changes at the top. Longtime Lithia Chairman and Chief Executive Officer Sid DeBoer, 68, said Wednesday he was turning over day-to-day operations to his son, Bryan DeBoer, 44, who has been president of the company since January 2006. The Medford auto retailer, with 86 stores in 11 states, posted earnings of $16.4 million in the fourth quarter compared with $4.2 million a year earlier. During 2011, The nation's ninth-largest auto seller reported net income of $58.86 million, a 329 percent gain above 2010's $13.72 million profit. Bryan DeBoer will assume the CEO post May 1, while Sid DeBoer, who took the company public in 1996, will become executive chairman and remain chairman of Lithia's board. Sid DeBoer said during a Wednesday conference call he will remain involved in strategic oversight, manufacturer relations, governmental relations and business development. "I'm real comfortable with that role and it's probably what I do best," he said. Sid DeBoer said the growing cache of information available to corporate leaders will benefit his son. "Bryan certainly became a modern manager more so than I ever was." Sid DeBoer said. "He uses numbers in real way, I use them more intuitively. He'll end up being a better CEO than I ever was." Sid DeBoer said the transition has been in the works for the past three or four years. "The recession accelerated the learning curve of his ability to function as CEO," the senior DeBoer said. "Obviously, time is important when a change takes place and I think we're in an upturn that should last a few years." The elder DeBoer credits the Obama Administration for keeping the auto industry from plunging further into financial chaos. "The Chrysler and General Motors bailouts were more important for Lithia's ability to flourish now than anything that happened," DeBoer said. "I give Obama credit. We would have survived, but we wouldn't be building a new headquarters and be on the roll we are now if not for Obama." Bryan DeBoer said he didn't anticipate any marked changes in Lithia's direction from the one developed since it rapidly retooled following a June 2008 restructuring announcement. At that time, the company sold or closed underperforming stores and cut jobs and other expenses. In essence, the younger DeBoer's stamp has been firmly imprinted on the Lithia brand for years. "We came to the conclusion our roots are in hometowns and had to determine how do we stay in hometowns?" Bryan DeBoer said. "Being that I grew up running stores and in operations I know very clearly stores perform well when we satisfy customer needs. It was about understanding the markets we're in, not the markets understanding Medford. What I've done the past couple of years is putting fire in the hands of people who can respond to customers." Acquisitions will continue, but not growth for growth sake, Bryan DeBoer said. Lithia will seek out small and mid-sized markets where it can acquire primary dealerships and go after luxury dealerships in metro areas. "We have to stay true to our hometown roots, focus on what we can control at whatever level and let the results speak for themselves," the incoming CEO said. In its early days, Lithia sold two used vehicles for every new one. Last year, it was nearly a 1-to-1 ratio. The push, Bryan DeBoer said, is to sell 1.5 used vehicles for every new unit and effectively, selling 60 each month at each of its lots. "It's in our DNA," he said. "It's a matter of helping and growing people in our stores and offering an expanded array of used cars." Tom Becker, a member of the Lithia Motors board for more than a dozen years, said Bryan DeBoer learned well from his father and Lithia executives Dick Heimann and Brad Gray. "He's a bright strategic leader and he's really demonstrated his great operating skills over the years," Becker said. "He's demonstrated his leadership skills and innovation." Along with Chris Holzshu and John North, Bryan DeBoer has shaped the future course with a new generation of leadership he said. "Bryan has the respect and admiration of store managers," Becker said. "They understand him and he understands them — their common goals, objectives and strategies." Lithia said Wednesday it has added a Scion franchise in Billings, Mont., built a stand-alone MINI store in Beaverton for a brand previously housed with its Portland BMW shop; and moved its Spokane Subaru dealership downtown away from its BMW store. The Wednesday earnings report showed sharply upward trends all around. Revenue jumped 30 percent to $2.7 billion from $2.1 billion in 2010. The per share earnings for the fourth quarter were 62 cents, up from 16 cents per share for 2010. Full year income from continuing operations was $2.09 per share, compared to 51 cents per share for 2010. The company employs 668 people in Jackson and Josephine counties at its corporate offices and dealerships. Reach reporter Greg Stiles at 541-776-4463 or email [email protected]. By GREG STILES MailTribune.com By GREG STILES Posted Feb. 23, 2012 at 12:01 AM Updated Feb 23, 2012 at 2:32 AM » Comment or view comments Reader Reaction » STAY INFORMED Email NewsLetter Sign Up Today Sign up for our newsletter and have the top headlines from your community delivered right to your inbox. Southern Oregon Directory Featured Businesses Loading... 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