Penske Automotive Group Inc. confirmed a longtime top marketing executive resigned last week, and the public dealership group has promoted a nine-year company veteran to fill the position.
Terri Mulcahey, Penske’s executive vice president of marketing and business development, resigned for personal reasons effective July 31, Penske spokesman Anthony Pordon said. The second-largest U.S. new-vehicle retailer promoted Tracy Cassady, formerly senior vice president of corporate marketing, to executive vice president of marketing effective Aug. 1.
Mulcahey, 54, had been with Penske since 2007, working as vice president of business development and senior vice president of marketing and business development before taking on the executive vice president level position in July 2015.
Before joining Penske, Mulcahey spent 20 years with dealership technology company Reynolds and Reynolds Co., including as senior vice president of sales and service in North America.
Cassady joined Penske in 2011 as a director in corporate marketing after working seven years as a senior manager in global marketing and communications at Federal-Mogul Corp. In 2015, Penske promoted Cassady to vice president of corporate marketing. Last February, she became senior vice president of corporate marketing.
Penske, of Bloomfield Hills, Mich., ranks No. 2 on Automotive News‘ list of the top 150 dealership groups based in the U.S., with retail sales of 222,800 new vehicles in 2019. It retailed 284,200 used vehicles for the same period, putting at it No. 2 on Automotive News‘ list of the top 100 retailers ranked by used-vehicle sales.