BLOOMFIELD HILLS, Mich. –

Penske Automotive Group has promoted a new chief financial officer.

J.D. Carlson, the company’s senior vice president and corporate controller, has been named executive vice president and CFO.

This move was made following the announcement that David Jones is resigning from his role as EVP and CFO at Penske to accept a similar role with another company.

Jones will stay on with Penske until the end of the month in an advisory role.

In another related promotion, Shelley Hulgrave has been promoted from corporate accounting manager — a position she has filled since 2006 — to corporate controller.

Carlson, the new CFO, joined the company in 2006 as VP and corporate controller and was promoted to senior VP in May 2011, and was also named the company’s principle accounting officer.

“Mr. Carlson has a strong operational and technical background in finance and accounting and will be responsible for all aspects of the company's financial operations,” company management said. “ His experience and tenure with the Penske Automotive organization will maintain the integrity and discipline of our worldwide financial operations and provide a solid foundation for success in this new role.”