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Sonic Automotive names new CFO

CHARLOTTE, N.C. (AP) -- Sonic Automotive Inc. said Wednesday that it promoted Heath Byrd to the job of executive vice president and chief financial officer.

Byrd originally joined Charlotte, N.C.-based automotive retailer as chief Information officer in 2007 and has served in that role since.

Before joining Sonic, Byrd held several positions at HR America including president, chief operating officer and chief financial officer. Prior to that, Byrd was a manager at Ernst & Young where he consulted in financial strategy, along with mergers and acquisitions, Sonic said.

Sonic shares rose 39 cents, or 1.8 percent, to $21.87 in afternoon trading.