LKQ Corporation Announces Executive Leadership Succession Plan
27 Noviembre 2023 - 7:51AM
LKQ Corporation (Nasdaq: LKQ) today announced that Dominick
Zarcone, the Company’s current President and Chief Executive
Officer, has informed the Company’s Board of Directors (the
“Board”) of his intention to retire from his role effective June
30, 2024. The Board has unanimously selected Justin Jude, the
Company’s current Senior Vice President and President of its
Wholesale – North America segment, to succeed Mr. Zarcone
as LKQ’s next President and CEO. In the interim, the Board has
appointed Mr. Jude to serve as LKQ’s Executive Vice President and
Chief Operating Officer from January 1, 2024 until he officially
succeeds Mr. Zarcone as President and CEO on July 1, 2024. It is
anticipated that Messrs. Zarcone and Jude will be included on the
slate of nominees for election as members of the LKQ Board of
Directors at the Company’s Annual Meeting of Stockholders in May
2024.
Mr. Zarcone commented, “It has been an absolute
honor to serve LKQ over the past nine years as we have expanded and
strengthened our global businesses and leadership teams. Our
success is the product of the tireless efforts of our greatest
asset – the 51,000 team members who make LKQ truly special.
Importantly, we started on an operational excellence journey in
late 2018 and have achieved tremendous progress. Nowhere has that
been more evident than in our Wholesale – North America
segment which, under Justin’s direction, has significantly expanded
margins and improved cash flow, all while enhancing our leading
market position. Time and again, Justin has proven himself as
both a strong operating executive and an effective leader who
definitively embodies LKQ’s values. The Board’s decision to appoint
Justin as my successor will ensure the continuation of the
operational excellence program and maintain the employee-focused
culture that is critical to our continued success.”
“I am thrilled to be selected to serve as the
next CEO of LKQ, and I am very grateful to Nick and the Board for
their support,” said Mr. Jude. “LKQ has an extraordinary history
and an extremely bright future, and it will be my honor to guide
and work alongside the best team in the industry in our ongoing
pursuit of our mission: to be the leading global value-added and
sustainable distributor of vehicle parts and accessories. With the
experience I gained leading our Specialty segment years ago and our
Wholesale – North America segment for the past eight
years, I look forward to driving organic revenue growth while
implementing our lean operating model across our entire
organization and focusing on execution as CEO of
LKQ. I will do my best to continue
to cultivate our exceptional culture, which
differentiates LKQ from its competitors.”
Chairman of the Board, Guhan Subramanian,
stated, “On behalf of the Board, I would like to thank Nick for his
countless contributions to our Company’s success. As CEO, Nick
mentored and developed a world-class leadership team, established a
people-first culture throughout the organization, established the
Company’s operational excellence initiatives, and produced solid
financial results.”
“Today’s announcement is the culmination of a
succession planning process that the Board initiated more than a
year ago. Justin’s almost 20 years of service to LKQ has been
marked by outstanding performance, excellent leadership, and sound
judgment,” added Mr. Subramanian. “The Board is confident that
Justin is the right person to be our next CEO and execute the
Company’s long-term strategy.”
About Justin Jude
Mr. Jude has been an LKQ team member since 2004.
During his tenure at LKQ, he has held various leadership roles
across the Company’s North American Sales, Supply Chain, and
Information Systems departments. From June 2014 to July 2015,
he served as President of our Specialty segment. Since July 2015,
he has served as President of our Wholesale – North
America segment. In this role, he has produced remarkable
financial results and developed an incredible leadership
team. In addition, Mr. Jude currently serves on the board of
directors of MEKO in Sweden.
About LKQ Corporation
LKQ Corporation (www.lkqcorp.com) is a leading
provider of alternative and specialty parts to repair and
accessorize automobiles and other vehicles. LKQ has operations in
North America, Europe and Taiwan. LKQ offers its customers a broad
range of OEM recycled and aftermarket parts, replacement systems,
components, equipment, and services to repair and accessorize
automobiles, trucks, and recreational and performance vehicles.
Forward Looking Statements
Statements and information in this press release
that are not historical are forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995 and
are made pursuant to the “safe harbor” provisions of such Act.
Forward-looking statements include, but are not
limited to, statements regarding our outlook, guidance,
expectations, beliefs, hopes, intentions and strategies. These
statements are subject to a number of risks, uncertainties,
assumptions and other factors including those identified
below. All forward-looking statements are based on
information available to us at the time the statements are made. We
undertake no obligation to update any forward-looking statements,
whether as a result of new information, future events or otherwise,
except as required by law.
You should not place undue reliance on our
forward-looking statements. Actual events or results may differ
materially from those expressed or implied in the forward-looking
statements. The risks, uncertainties, assumptions and other factors
that could cause actual events or results to differ from the events
or results predicted or implied by our forward-looking statements
include, among others, changes in our cash position or cash
requirements for other purposes, fluctuations in the price of our
common stock, general market conditions, and stockholder response
to the repurchase program; and other factors discussed in our
filings with the SEC, including those disclosed under the
captions “Risk Factors” and “Management’s Discussion and Analysis
of Financial Condition and Results of Operations” in our Annual
Report on Form 10-K for the year ended December 31,
2022 and in our subsequent Quarterly Reports on Form 10-Q.
These reports are available on our investor relations website at
lkqcorp.com and on the SEC website at sec.gov.
Contact:
Joseph P. BoutrossVice President, Investor
Relations LKQ
Corporation 1-(312)
621-2793 jpboutross@lkqcorp.com
LKQ (NASDAQ:LKQ)
Gráfica de Acción Histórica
De May 2024 a Jun 2024
LKQ (NASDAQ:LKQ)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024