LKQ Corporation Continues Board Refreshment with the Appointment of James S. Metcalf
LKQ announced the appointment of James S. Metcalf to its Board of Directors as a new independent director, effective December 11, 2024. The appointment is part of the Board's ongoing refreshment process. Additionally, Dominick Zarcone will not seek re-election and will retire from the Board at the 2025 Annual Meeting. Following these changes, the Board will comprise ten directors, with nine being independent. Chairman Guhan Subramanian highlighted Metcalf's experience as a public company CEO and board member, noting his expertise in business strategy and operational excellence will enhance the Board's capabilities.
LKQ ha annunciato la nomina di James S. Metcalf al suo Consiglio di Amministrazione come nuovo direttore indipendente, con effetto dall'11 dicembre 2024. Questa nomina fa parte del processo di rinnovamento continuo del Consiglio. Inoltre, Dominick Zarcone non si ricandiderà e si ritirerà dal Consiglio durante l'Assemblea Annuale del 2025. Dopo queste modifiche, il Consiglio sarà composto da dieci membri, di cui nove saranno indipendenti. Il Presidente Guhan Subramanian ha messo in evidenza l'esperienza di Metcalf come CEO di una società pubblica e membro del consiglio di amministrazione, sottolineando che la sua esperienza in strategia aziendale e eccellenza operativa migliorerà le capacità del Consiglio.
LKQ anunció el nombramiento de James S. Metcalf a su Junta Directiva como nuevo director independiente, con efecto a partir del 11 de diciembre de 2024. Este nombramiento forma parte del proceso de renovación continua de la Junta. Además, Dominick Zarcone no buscará la reelección y se retirará de la Junta en la Asamblea Anual de 2025. Tras estos cambios, la Junta estará compuesta por diez directores, de los cuales nueve serán independientes. El presidente Guhan Subramanian destacó la experiencia de Metcalf como CEO de una empresa pública y miembro de la junta, señalando que su experiencia en estrategia empresarial y excelencia operativa mejorará las capacidades de la Junta.
LKQ는 제임스 S. 메트칼프를 새로운 독립 이사로 이사회에 임명했다고 발표했으며, 이는 2024년 12월 11일부터 시행됩니다. 이번 임명은 이사회의 지속적인 재구성 과정의 일환입니다. 또한 도미닉 자르코네는 재선에 나서지 않으며, 2025년 연례 회의에서 이사회에서 은퇴할 예정입니다. 이러한 변화 후, 이사회는 10명의 이사로 구성되며, 그중 9명은 독립 이사가 될 것입니다. 의장인 구한 수브라마니안은 메트칼프의 공공 기업 CEO 및 이사로서의 경력을 강조하며, 그의 사업 전략 및 운영 우수성에 대한 전문성이 이사회의 역량을 강화할 것이라고 전했습니다.
LKQ a annoncé la nomination de James S. Metcalf à son Conseil d'Administration en tant que nouveau directeur indépendant, avec effet au 11 décembre 2024. Cette nomination fait partie du processus de renouvellement continu du Conseil. De plus, Dominick Zarcone ne sollicitera pas sa réélection et prendra sa retraite du Conseil lors de l'Assemblée annuelle de 2025. Suite à ces changements, le Conseil comprendra dix administrateurs, dont neuf seront indépendants. Le Président Guhan Subramanian a souligné l'expérience de Metcalf en tant que PDG d'une entreprise cotée et membre du conseil, notant que son expertise en stratégie commerciale et excellence opérationnelle améliorera les capacités du Conseil.
LKQ gab die Ernennung von James S. Metcalf als neuen unabhängigen Direktor in seinen Vorstand bekannt, die am 11. Dezember 2024 wirksam wird. Diese Ernennung ist Teil des kontinuierlichen Erneuerungsprozesses des Vorstands. Darüber hinaus wird Dominick Zarcone sich nicht zur Wiederwahl stellen und wird bei der Jahreshauptversammlung 2025 aus dem Vorstand ausscheiden. Nach diesen Änderungen wird der Vorstand aus zehn Direktoren bestehen, von denen neun unabhängig sind. Vorsitzender Guhan Subramanian hob Metcalfs Erfahrung als CEO eines börsennotierten Unternehmens und als Vorstandsmitglied hervor und bemerkte, dass seine Expertise in Unternehmensstrategie und operativer Exzellenz die Fähigkeiten des Vorstands verbessern wird.
- Board independence strengthened with 9 out of 10 directors being independent
- Addition of experienced public company CEO strengthening leadership expertise
- None.
Brings Significant Public Company Chief Executive Officer and Board Experience
ANTIOCH, Tenn., Dec. 11, 2024 (GLOBE NEWSWIRE) -- LKQ Corporation (Nasdaq: LKQ) (“LKQ” or the “Company”) today announced that it has appointed James S. Metcalf to its Board of Directors (the “Board”) as a new independent director effective December 11, 2024, as part of the Board’s ongoing refreshment process. The Company also announced that Dominick Zarcone has decided not to stand for re-election and will retire from the Board when his term expires in connection with the Company’s 2025 Annual Meeting. Following the 2025 Annual Meeting, the Board will consist of ten directors, nine of whom are independent.
“Our Board is committed to active and ongoing refreshment to ensure it has the right mix of skills and experiences to provide effective oversight and guidance of the Company’s strategy, with the goal of producing long-term value for its shareholders,” said Guhan Subramanian, Chairman of LKQ. “To this end, we are excited to welcome Jim to LKQ’s Board as a proven leader who brings significant experience as both a public company chief executive officer and board member. Jim’s leadership experience in business strategy and operational excellence will further enhance the depth, knowledge and skill sets represented on our Board.”
“Finally, on behalf of the Board, I would also like to thank Nick for his leadership and invaluable contributions as an executive and director of LKQ, and we wish him the very best in his retirement from LKQ,” Mr. Subramanian concluded.
About James Metcalf
Mr. Metcalf previously served as Chairman and Chief Executive Officer of Cornerstone Building Brands, Inc. (“Cornerstone”), a North American building products manufacturer, from 2018 until his retirement as CEO in September 2021 and as Chairman in March 2022. He joined Cornerstone in 2017 as a non-employee director when it was known as NCI Building Systems, Inc. Prior to joining Cornerstone, he held various roles at USG Corporation, a leading manufacturer of wallboard and building products, including serving as its President and Chief Executive Officer from January 2011 and its Chairman from December 2011 until his retirement from USG in November 2016. He is currently serving as a board member of both Ferguson Enterprises Inc. (NYSE: FERG), a value-added distributor serving the specialized professional in the North American construction market, and Gibraltar Industries, Inc. (Nasdaq: ROCK), a leading manufacturer and provider of products and services for the residential, renewable energy, agtech and infrastructure markets. He previously served on the boards of the following formerly public companies: Cornerstone Building Brands, Inc., NCI Building Systems, Inc., Tenneco Inc., USG Corporation, and Molex Inc. He earned a Master of Business Administration from Pepperdine University and a BA in Criminal Justice and Pre-Law from The Ohio State University.
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
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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, 2023 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. Boutross
Vice President, Investor Relations
LKQ Corporation
(312) 621-2793
jpboutross@lkqcorp.com
FAQ
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