Finbarr O'Neill's abrupt resignation as president and CEO of Mitsubishi Motors North America to take the same job at Reynolds & Reynolds Co. should not be construed as a statement regarding the future of the embattled auto maker, he tell Ward's
O'Neill says he has talked with several Mitsubishi dealers to allay their concerns about the future of the brand. “I've told them that this is a personal decision for me,” he says. “It's a new chapter in my life and an opportunity to get into a company whose sole business is helping dealers become more profitable.”
He says Mitsubishi “has made the tough decisions and has a strong foundation in place to be successful.”
O'Neill is entering a less than rosy situation as the new head of Reynolds, an information technology company serving auto dealers.
Poor sales due to a miscalculation of the market's readiness for Generation Series, a web-based dealer technology system, forced out CEO and President Lloyd “Buzz” Waterhouse in July.
“The question is, what is O'Neill's strategy for improving sales?” says Robin Roberts, an information technology analyst with Stephens Inc.
O'Neill declines to specify what Reynolds' future strategy will be but insists the Dayton, OH, company is on the right track.
“Generations is a product that needs to be refined, but it is a product that even competitors realize is very powerful,” he says.