Cox Automotive COO Mark O’Neil plans to retire in February after a career that included multiple innovations in auto retailing. His exit — about three years after Cox’s $4.5 billion acquisition of Dealertrack, a company O’Neil led — comes down to timing.

“Timing’s everything, and I feel like we’re in a really good spot right now at Cox. Our future’s bright,” O’Neil said. Not one to leave “while the chips are down,” O’Neil said Cox understands the changes coming to the industry and is well-positioned for them.

“This is a good time to let the next generation of leaders take over and execute the game plan to help the company successfully transition,” he told Automotive News.

O’Neil, who works in Richmond, Va., turned 60 this year. After stepping down Feb. 1, he plans to spend more time with his family, including checking off several bucket-list destinations, while giving back to the community. “I’d like to do all those things while I’m healthy, and I’d like to do them full-fledged,” he said.

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