Buchanan Focuses on Campaign

Buchanan Focuses on Campaign

GOP congressional hopeful will take a lesser role in his automotive group

Congressional candidate Vern Buchanan is stepping down as chief executive of his automotive group, handing off his day-to-day duties to a longtime associate.

Buchanan will remain chairman of the board and managing partner for each investment of the group, which has been ranked in the nation's top 30 by Automotive News.

"The campaign frankly just takes up more and more of your time," said Buchanan, a Republican running for the seat being vacated by U.S. Rep. Katherine Harris.

John Tosch is taking over as CEO of Buchanan Automotive Group, a group of 20 dealerships that includes Sarasota Ford. Tosch previously served as the group's senior vice president and chief operating officer. His working relationship with Buchanan goes back more than a dozen years to the two men's involvement with American Speedy Printing in Michigan.

Buchanan Automotive also is tweaking its growth strategy to scale back on new acquisitions and focus more on increasing sales at existing stores and expanding relationships with dealers that already have proven to be successful.

The group will be more selective about adding new stores, perhaps making a deal for one new acquisition per year instead of three or four, and expanding in existing markets, Buchanan said.

The company, however, is in the process of adding a store in an "exceptional" new market, said Buchanan, who declined to reveal details.

The change in strategy could help the group deal with new challenges in the auto industry, Tosch said.

"I think it's a good thing for us to step back and to work with more emphasis on our current operations."

Tosch's appointment comes at the same time as two other personnel changes.

Dennis Slater, the former corporate controller, takes Tosch's old spot as chief operating officer. Steve Hiteman, coming from a Tampa automotive company, is joining the company as chief financial officer.

Making leadership changes at the group now -- nine months before the November election -- gives the executives time to transition into their new jobs, Buchanan said.

If Buchanan, who is among a field of seven candidates vying for the congressional seat, is successful in the Republican primary and the November election, he would be expected step back from the company, anyway.

"You've gotta go full time and do the people's work, and that's what I'm planning on doing," Buchanan said.

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