LKQ Corp. Announces Director Resignation
Sukhpal Singh Ahluwalia has resigned his positions as a director of LKQ Corp. and as executive chairman of its Euro Car Parts (ECP) subsidiary in the United Kingdom.
Ahluwalia founded a company 40 years ago that eventually became Euro Car Parts, which has grown to be the leading distributor of aftermarket automotive parts in the U.K., according to LKQ Corp. Ahluwalia sold ECP to LKQ in late 2011 and stayed on as CEO until 2014 when he became executive chairman. Over the past several years, Ahluwalia and his three sons have developed a substantial property business in the U.K., where more recently he has focused his time and energy.
“Sukhpal has been a key partner with LKQ over the past seven years as we have quadrupled the size of our business in the U.K., and he has served as a valued LKQ board member,” said Dominick Zarcone, president and CEO of LKQ Corp. “While we will miss his insights, we respect his desire to spend all his time focused on the family property business and wish him nothing but the best in those endeavors.”
“ECP has been my life’s work and there will always be a bit of the company in me,” Ahluwalia said. “I have enjoyed my relationship with LKQ but the time has come for a change, so I can devote my full abilities to building the property business with my sons. I am confident in the strategy LKQ has for its European segment and for the next level of growth and operational excellence at ECP.”
“All of us at LKQ thank Sukhpal for everything he has done to build ECP over the years,” said Joseph M. Holsten, chairman of the board of LKQ, “and extend our best wishes for much continued success.”
LKQ Corp. is the parent company to Keystone Automotive Operations.