Eugene 'Gene' McDonald, Co-Founder and President of Black Book, Dies at 96

NEW YORK, July 3, 2024 - Eugene "Gene" McDonald, co-founder and former president of National Auto Research (NAR), known widely as Black Book, died on July 1 at his home. He was 96.

McDonald co-founded Black Book in 1955 with a vision to create a practical tool for car buyers, and his innovative work ensured that the book of wholesale auction values would fit concisely into a shirt pocket. Hearst acquired the company from Cox Broadcasting Corporation in 1980 and, under his leadership, Black Book saw extensive growth and innovation, transitioning from print to digital with tremendous success.

"Gene was an exceptional leader whose groundbreaking work in co-founding National Auto Research, which became Black Book, transformed the automotive industry," said Hearst President and CEO Steven R. Swartz. "His pioneering work with Black Book set new standards in the industry and were foundational to our growing transportation business. We will forever be grateful for his vision."

Hearst Executive Vice Chairman and Former CEO Frank A. Bennack Jr. said: "Gene's relentless dedication, innovative spirit and vision not only propelled his chosen industry - and Hearst's role in it - forward but also left an indelible mark that will forever inspire future generations. He was more than a leader; he was a friend whose legacy of excellence and integrity will be deeply missed."

"Gene's vision and leadership have been a cornerstone in our industry. His contributions and dedication will remain an inspiration for many years to come," said Tom Cross, senior vice president, Hearst and president, Hearst Transportation. "We express our gratitude and sympathy to his family at this time."

McDonald's remarkable accomplishments include his induction into the NAAA Hall of Fame in 1985 and being honored with the NIADA Ring of Honor in 1994. Additionally, Gene received a 30-year service award from Hearst and was named an honorary lifetime member of the Texas Independent Automotive Dealers Association. He retired from full-time work at Black Book in 1994 but continued to work with the company until 2006.

"Gene's impact on Black Book and the auto industry as a whole is immeasurable. We are grateful for his pioneering spirit and unwavering commitment," said Jared Kalfus, president of Black Book.

Black Book is a leading provider of vehicle valuation data and analytics. It serves various sectors of the automotive industry, including lenders, insurance companies, auctions, manufacturers and dealerships. The company provides detailed data on new and used cars, light trucks, motorcycles, ATVs, snowmobiles, personal watercraft and heavy-duty commercial trucks and trailers. This data is used throughout the vehicle lifecycle, from loan origination and portfolio risk analysis to remarketing and trade-in values.

McDonald graduated from the University of Georgia and began his career in the automotive industry at an independent car dealership.

Pre-deceased by his wife Barbara, Gene leaves behind two sons, Jeff and Greg. Arrangements for his memorial will be announced at a later date.

Media Contact: Paul Luthringer, Hearst, 212-649-2540, [email protected]