AutoNation Hires Successor for Chief Financial Officer

AutoNation Inc., the largest U.S. automobile retailer, said it hired Craig Monaghan from IVillage Inc., which runs a network of Internet sites for women, as chief financial officer. Monaghan, 43, succeeds Michael Karsner, who in November was named president and chief executive of ANC Rental Corp., the car-rental unit AutoNation plans to spin off by June. Karsner also continued as AutoNation chief financial officer during the search for a replacement.

AutoNation has more than 400 new-car franchises as well as an online auto-sales unit that the Fort Lauderdale, Fla.-based company expects to generate $1.5 billion in sales this year. Monaghan had been New York-based IVillage’s chief financial officer since June 1998.

Separately, IVillage reported a net loss for the first quarter of $25.2 million, or 85 cents a share, compared with a loss of $17.6 million, or 96 cents, a year ago, as net revenue nearly quadrupled to $20.8 million from $6.5 million. Membership increased 218% to about 4.9 million.

IVillage shares rose 13 cents to close at $10.69 on Nasdaq. AutoNation fell 50 cents to close at $8.38 on the New York Stock Exchange.