Copart, Inc. announced that Jeff Liaw will step down as chief executive officer and director, effective July 31. The Board has appointed Executive Chairman Jay Adair – who previously led Copart as CEO – to resume the role of chief executive officer effective July 31. Liaw will support the transition as Special Advisor to Adair.
“Jeff has provided Copart with extraordinary leadership over the past decade – first as CFO, then President, and finally as our third-ever CEO,” said Adair. “Under his stewardship the company achieved all-time high transaction values, average selling prices, and auction liquidity. As a result, we are the trusted platform for insurance and commercial consignors all over the world. On behalf of everyone at Copart, I thank Jeff and wish him well.”
Liaw also commented on the transition.
“Leading Copart has been the privilege of a professional lifetime,” Liaw said. “I’m grateful to the company for affording me the opportunity, for the customers who have entrusted us with their business, and for my teammates all over the world whose tireless efforts enable us to serve our customers and members so well. I wish Copart and Jay the very best in the next chapter ahead and look forward to contributing to the Company’s future success.”
