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Lithia CFO resigns from family business

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High Five
Tuesday, June 15, 2010

Medford-based Lithia motors is a family business: Sid DeBoer is CEO, his son Brian is President, and until he resigned this month, Sid's son Jeff DeBoer was the company's CFO.

DeBoer said he has accomplished the goals set when he started at the company in 1997.

"I didn't always plan to come back," DeBoer said shortly after his younger brother Brian was named president. "Lithia was a private company when I grew up and there wasn't a big need for my skills at Lithia. It was all about independence and success on my own in Japan, and I was doing well all on my own. When the company went public that changed. All of a sudden, there was a need for someone used to dealing with investors and investment banking. I had an opportunity to add value and fit into Lithia..."

DeBoer joined the Medford-based auto retailer in March 1997 as vice president for finance and investor relations. He was named senior vice president and CFO three years later and helped guide the company from a regional privately held firm into a publicly traded company.

Read more at the Mail Tribune.

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