CEO refocused association on advocacy since taking top role in 2013; sold off business lines and headquarters building in Virginia
May 22, 2020
By Kathryn Walson
Although the National Automobile Dealers Association and its industry are going through hard times, Peter Welch said he is confident economic conditions will improve before he retires at the end of 2020 after nearly eight years as the group's CEO.
“I feel pretty optimistic that we’ll be most of the way through the pandemic” by the fall, he told CEO Update, adding that the COVID-19 crisis did not factor into his decision to retire. Welch said he plans to spend time with family, including his wife of 40 years, and take up some hobbies.
“I’m 67 years old, and it’s time,” Welch said. “I don’t think I’ve had more than a two-week vacation in 30 or 40 years. I think it’s time to pass the baton on to someone else.”