Sonic Automotive Inc. is one of the largest auto retailers in the United States, running 120 dealerships in 15 states, mostly featuring luxury and import brands. It sells new and used cars and light trucks, operates repair shops and helps customers arrange financing, insurance and warranties. Its 2010 revenues of $6.8 billion placed it at No. 339 on the Fortune 500. Headquartered in Charlotte, N.C., Sonic has approximately 9,200 employees. Chairman and Chief Executive Officer O. Bruton Smith founded the company in 1997 with five dealerships.
General Counsel Stephen Coss manages a pair of “excellent” attorneys, he said, along with a corporate paralegal and a legal secretary. He relies heavily on external counsel; last year, the outside legal spend approached $9.5 million.
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