The chief exec and operations boss have left Lookers, which runs over 150 car dealerships across the country.
Andy Bruce has run the firm for five years but he has walked away from the company after a “challenging” few months.
“After nearly two decades with Lookers, it is now time for me to move onto new ventures and allow new leadership to take the business into its next chapter,” Mr Bruce said.
Chief operating officer Nigel McMinn, who has been with the firm since 2013, said: “I have enjoyed helping to build the business at Lookers and working with a great team of people.”
The company said profits would be lower than it expected at £20m.