E-commerce provider of automotive parts and accessories CarParts.com announced effective April 18, 2022, COO & CFO, David Meniane will transition to CEO and SVP of Finance, and Ryan Lockwood will become CFO.
These moves follow Lev Peker’s decision to step down as Chief Executive Officer and director, effective as of close of business on April 15, 2022, to pursue other business opportunities. The company has also appointed Meniane as a Class III director to fill the resulting vacancy from Peker’s departure from the Board.
“CarParts.com has undergone an aggressive turnaround journey, resulting in growth across the business as well as an improved customer experience,” said David Meniane, current COO & CFO and incoming CEO. “I am proud to be assuming the role of CEO at this exciting time and, with Ryan and the team at CarParts.com, will remain focused on business execution, serving our customers and taking CarParts.com to the next level.”
Through this shift in leadership, the mission of CarParts.com remains the same. Guided by a strategy of Right Part, Right Time, Right Place, CarParts.com says it has experienced its most successful year to date in 2021, recently announcing its latest quarterly and annual earnings earlier this month.
“Since joining CarParts.com in 2019, David has been an integral part of the Company’s transformation and he intimately knows the business, having built, among many other things, a vertically integrated supply chain and the Company’s data science team. What’s more, he helped us navigate a global pandemic, both from a staff and operations perspective,” said Lev Peker, outgoing CEO. “2021 was a year of challenges for many but together we have established a solid foundation that will allow the organization to navigate the future. Alongside David, Ryan will continue to drive the business forward through financial discipline and market strategy. His knowledge of the financial industry is critical to ensuring CarParts.com’s continued success.”
“After experiencing our eighth consecutive quarter of year-over-year sales growth, I believe in our ability to execute on our long-term growth strategy and disrupt a $300B industry,” said Lockwood. “I’m excited about where the Company is headed and I’m grateful to have the opportunity to work alongside an incredible leadership team as we serve our valued customers, partners, and community.”
Incoming CEO David Meniane added, “I would like to personally thank Lev for his leadership, dedication and commitment to CarParts.com, and wish him tremendous luck in his future endeavors.”