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Posted 27 November, 2023

LKQ CORP appointed new CEO

CEO Change detected for ticker Nasdaq:LKQ in a 8-K filed on 27 November, 2023.


  On November 21, 2023, the Board of Directors (the "Board") of LKQ Corporation (the "Company") approved a leadership succession plan pursuant to which Dominick Zarcone will retire as the Company's President and Chief Executive Officer effective June 30, 2024.  

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Overview of LKQ CORP
Automotive • Motor Vehicle Parts
LKQ Corp. is a distributor of vehicle products and its parts to repair, maintain, and accessorize automobiles. It operates through the following segments: Wholesale-North America, Europe and Specialty. The Wholesale-North America segment includes Glass and Self-Service segments. The company was founded by Donald F. Flynn in February 1998 and is headquartered in Chicago, IL.
Market Cap
$13.9B
View Company Details
LKQ CORP by TradingView
Relevant filing section
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. 


On November 21, 2023, the Board of Directors (the "Board") of LKQ Corporation (the "Company") approved a leadership succession plan pursuant to which Dominick Zarcone will retire as the Company's President and Chief Executive Officer effective June 30, 2024. At that time, Mr. Zarcone will transition to a position as an executive officer of the Company with the title of Executive Advisor in order to facilitate an orderly chief executive officer transition and will serve in such capacity from July 1, 2024 through December 31, 2024. All elements of Mr. Zarcone's combined annual compensation in 2024 for his service in both roles will remain the same as his annual compensation in 2023. Mr. Zarcone also will remain as a member of the Board.


Effective January 1, 2024, Justin Jude, age 48, currently the Company's Senior Vice President and President of its Wholesale - North America segment, will become the Company's Executive Vice President and Chief Operating Officer and will serve in such capacity through June 30, 2024. Effective July 1, 2024, Mr. Jude will be appointed President and Chief Executive Officer of the Company. It is anticipated that Mr. Jude will be nominated for election to the Board at the Company's 2024 annual meeting of stockholders. 


In Mr. Jude's capacity as Executive Vice President and Chief Operating Officer of the Company, he will receive an annual base salary of $800,000 and a bonus opportunity equal to 50%, 100% and 200% of his annual base salary at threshold, target and maximum, respectively. The Company expects to approve compensation terms relating to Mr. Jude's service as the Company's President and Chief Executive Officer at a later date.


Except as described herein, there are no arrangements or understandings between Mr. Jude and any other person pursuant to which Mr. Jude will be selected either as the Company's Executive Vice President and Chief Operating Officer or as the Company's President and Chief Executive Officer. Mr. Jude has no family relationships with any other executive officer or director of the Company. Mr. Jude has not been involved in any related person transactions with the Company that would require disclosure under Item 404(a) of SEC Regulation S-K. For more information regarding Mr. Jude's background, please see Mr. Jude's biography set forth in Part III, Item 10 of the Company's Annual Report on Form 10-K for its fiscal year ended December 31, 2022, which is incorporated herein by reference.