LKQ CEO Rob Wagman leaves for health reasons

  • After about five years on the job
  • Praise and thanks for Wagman
  • Nick Zarcone taking over
  • Wagman said 65 words

(exechange) — Chicago, Illinois, March 09, 2017 — Rob Wagman, chief executive of LKQ, leaves. As announced by LKQ Corporation in a news release on Thursday, March 09, 2017, Robert L. (Rob) Wagman leaves the post as Chief Executive Officer at the auto parts company in a surprising move after about five years on the job.

The exact date of Wagman’s departure was not given in the announcement. Obviously, it was an abrupt change.

Wagman’s duties are taken over by Nick Zarcone, currently Chief Financial Officer at LKQ Corporation.

LKQ Corporation still listed Wagman as President & Chief Executive Officer on its leadership page.

The move is part of a management shake-up.

Health reasons

The management change is explained as follows. LKQ said: “Robert L. Wagman has announced his intention to step down from the positions of President and Chief Executive Officer due to health considerations.”

Share price rise since October 2008

The change follows a rise in the share price of LKQ Corporation since October 2008.

Chaired by Joseph M. Holsten

LKQ Corporation is chaired by Joseph M. Holsten.

Holsten has been the Chairman of the Board since November 2011.

On the job as CEO since 2012

Wagman will remain with the Company on a part-time consulting basis.

Wagman will not be standing for re-election to the Board.

Wagman became LKQ’s President and Chief Executive Officer in January 2012.

He was elected to the Board of Directors in November 2011.

Wagman was the President and Co-Chief Executive Officer from January 1, 2011 to January 1, 2012.

Prior thereto, he had been the Senior Vice President of Operations—Wholesale Parts Division, with oversight of the wholesale late model operations, since August 2009.

Prior thereto, from October 1998, Wagman managed the insurance company relationships, and from February 2004, added to his responsibilities the oversight of the aftermarket product operations.

He was elected the Vice President of Insurance Services and Aftermarket Operations in August 2005.

Before joining LKQ, Wagman served from April 1995 to October 1998 as the Outside Sales Manager of Triplett Auto Parts, Inc., a recycled auto parts company that the company acquired in July 1998.

He started in the industry in 1987 as an Account Executive for Copart Auto Auctions, a processor and seller of salvage vehicles through auctions.

Push-out Score not determined

When the reason for the departure is health-related, a Push-out Score™ is not determined.

Read the full story in the exechange report 11.2017 ($).