Online car auction company Copart Inc. announced that its board of directors has appointed Jeff Liaw as the company’s sole chief executive officer (CEO) and member of the board. Liaw has been serving as co-CEO since March 2022.
In addition, Jay Adair, who served as the company’s CEO from February 2010 to February 2022 and as co-CEO along with Liaw since March 2022, will step down from that role.
The board has appointed Adair as executive chairman. He will remain an active executive officer of the company in that capacity, according to a press release announcing the changes.
“Today’s appointment of Jeff as CEO recognizes his significant contributions to Copart over the last eight years and the board’s confidence in him to lead Copart into the future. Jay’s thoughtful succession planning has positioned Copart to seamlessly transition leadership responsibilities, while continuing our tireless pursuit of delivering outstanding outcomes to our customers,” said Willis Johnson, chairman of the board of directors, Copart.
Liaw joined Copart in 2016 as chief financial officer (CFO) and was promoted to president in 2019. He was named Copart’s CEO North America in February of 2021 and co-CEO in March of 2022.
Prior to joining Copart, Liaw served as the CFO of FleetPride Inc. and as a principal of TPG Capital Management L.P., a private equity firm. He earned a bachelor’s degree from the University of Texas, and a master’s from Harvard.
