DALLAS - Copart, Inc. (NASDAQ: NASDAQ:CPRT), a global leader in online vehicle auctions, announced today a leadership transition that appoints Jeff Liaw as the company's new Chief Executive Officer (CEO), effective April 1, 2024.
Liaw, who has been with Copart since 2016, previously held positions including Chief Financial Officer and President before being named Co-CEO in March 2022. His predecessor, Jay Adair, will assume the role of Executive Chairman after serving as CEO from February 2010 and Co-CEO alongside Liaw since March 2022.
Willis Johnson, Chairman of the Board of Directors, expressed confidence in Liaw's ability to lead the company forward, citing his significant contributions to Copart over the years. Adair, in his statement, praised Liaw for his founder-like thinking and commitment to growth, focusing on customer and employee satisfaction.
Liaw's experience includes a tenure as CFO of FleetPride, Inc., and a principal role at TPG Capital Management, L.P., a private equity firm. He holds a B.A. and B.B.A. from the University of Texas, as well as an M.B.A. from Harvard.
Copart operates over 250 locations across 11 countries and serves a range of clients, including insurance companies, banks, finance companies, charities, fleet operators, dealers, and the general public. The company prides itself on its innovative technology and online auction platforms that connect sellers to over 750,000 members worldwide.
This leadership change is part of a planned succession process aimed at ensuring the continuity of Copart's strategic direction and operational excellence.
The information in this article is based on a press release statement from Copart, Inc.
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