WASHINGTON (dpa-AFX) - Copart, Inc. (CPRT) Monday announced the appointment of Jeff Liaw as the company's sole Chief Executive Officer and as a member of the Board of Directors.
Liaw has been serving as Co-CEO since March 2022. In addition, Jay Adair, who served as the company's CEO from February 2010 to February 2022 and as Co-CEO along with Liaw since March 2022 will step down from that role.
In addition, the Board of Directors has appointed Adair as Executive Chairman, and he will remain an active executive officer of the company in that capacity. The above changes are effective April 1, 2024.
Liaw joined Copart in 2016 as Chief Financial Officer (CFO) and was promoted to President in 2019. Liaw was named Copart's CEO North America in February of 2021 and Co-CEO in March of 2022.
Commenting on Jeff's appointment, Willis Johnson, who will remain Chairman of the Board of Directors, said: 'Today's appointment of Jeff as CEO recognizes his significant contributions to Copart over the last eight years and the board's confidence in him to lead Copart into the future. Jay's thoughtful succession planning has positioned Copart to seamlessly transition leadership responsibilities, while continuing our tireless pursuit of delivering outstanding outcomes to our customers.'
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