Houston. 730 Town & Country Boulevard, Suite 500. Group 1 Automotive’s headquarters.
The car is at the curb. He is at the wheel. Daryl Kenningham, 61. Psychology degree from Michigan, which will come in handy, because I am about to ask a man about his own money.
Engine on.
I get in. I am not here to buy a car. I am here to see how it drives. First question before we reach the corner.
Where did you learn to drive?
Nissan, 1988 to 1998, America and Japan. Thirteen years inside Toyota. Then Group 1 in 2011 as a regional vice president, and the long climb. US operations 2017, Brazil 2019, president and COO 2022, CEO on the first day of 2023. A seat on Darden’s board since 2024, on the side.
Why did they give you the keys?
The chairman answered that himself, August 2022, first sentence of the praise in the press release.
“Over the course of his career, Daryl has developed strong relationships with the automotive manufacturers.”
The board hired a Toyota man.
It explains why Toyota might say yes to ten Lexus stores in January. And it explains nothing about the three capital-allocation decisions I want him to explain. Then I checked his pay, his stock sales and the board’s plans for the next CEO. And the filing that landed on September 30 while I was preparing this post.
Keep driving. I have a few more important questions…
