• December 15, 2008

Autobytel, the automotive shopping and research site, has tapped Jeffrey H. Coats, a director of the company, as president and CEO. Coats, a partner of Southgate Alternative Investments, has sat on Autobytel's board and has been an executive chairman of Mikronite Technologies Group Inc., an industrial technology company, since April 2007.

Mark Garms, the company's SVP/dealer operations and strategy, will be promoted to the new position of SVP and COO.

Autobytel--which announced it was looking for a buyer--is also cutting about 40 employees, or 25% of its workforce. The company said it is continuing to pursue strategic alternatives through RBC Capital Markets, as previously announced. --Karl Greenberg