LKQ Corporation has announced the upcoming retirement of its President and CEO, Dominick Zarcone set for June 30, 2024. Zarcone has led the company through significant expansion and strengthening of its global business, LKQ said. The company’s board of directors has unanimously chosen Justin Jude, current senior vice president and president of wholesale – North America segment, to succeed Zarcone.
Zarcone expressed pride in LKQ’s achievements under his leadership, particularly the operational excellence journey that began in late 2018. He praised Jude for his role in expanding margins and improving cash flow in the wholesale – North America segment. “Time and again, Justin has proven himself as both a strong operating executive and an effective leader who definitively embodies LKQ’s values,” Zarcone said.
Jude, who will take up the role of executive vice president and chief operating officer from January 1, 2024, until he becomes president and CEO on July 1, 2024, shared his enthusiasm for the new role. He committed to driving organic revenue growth and implementing a lean operating model while maintaining the company’s culture. “I will do my best to continue to cultivate our exceptional culture, which differentiates LKQ from its competitors,” said Jude.
Guhan Subramanian, chairman of the board, thanked Zarcone for his numerous contributions, including developing a world-class leadership team and establishing a people-first culture. Subramanian described the CEO transition as a result of thorough succession planning. He expressed the board’s confidence in Jude’s leadership abilities and his readiness to execute LKQ’s long-term strategy.
Justin Jude has been a part of LKQ since 2004, holding various leadership positions in North American sales, supply chain, and information systems departments. He has been credited with producing significant financial results and developing a robust leadership team. Additionally, Jude serves on the board of directors of MEKO in Sweden.