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LKQ: Jacob H. Welch de ValueAct Capital nommé au conseil d'administration

Distributeurs

LKQ Corporation a annoncé la nomination de Jacob H. Welch de ValueAct Capital au conseil d’administration le 12 août 2020. Joseph M. Holsten, président de LKQ Corporation, a déclaré : " Nous sommes ravis d’accueillir Jake au conseil d’administration de LKQ. Les antécédents de Jake en matière de gestion des placements et son expérience des marchés publics compléteront davantage les compétences et l’expérience diversifiées de notre conseil d’administration. "

Voir le communiqué détaillé de LKQ ci-dessous (en anglais)

Mr. Welch is a Partner of ValueAct Capital, one of LKQ’s largest stockholders. He has previously served as a director of Armstrong Flooring, Inc., where he was a member of the Compensation and Finance Committees. Prior to joining ValueAct Capital in August 2009, Mr. Welch worked as an analyst with The Blackstone Group in its private equity division in New York. He has a B.A., cum laude, from Harvard College and is a CFA charterholder.

“ValueAct Capital invests in great companies navigating changes with the potential for substantial long-term value creation. We have long admired LKQ’s three market-leading businesses and have more recently been encouraged by management and the board’s renewed focus on operational excellence. This is a great foundation for continued revenue, profit and cash flow growth in the years ahead. I have had the chance to meet many members of management and the board and am impressed with their long-term vision for LKQ as the leading parts provider and true partner to its customers. I am excited to join the board and look forward to working collaboratively with management and my fellow Board members.” 

ValueAct Capital owns approximately 7% of LKQ's outstanding common stock. In connection with Mr. Welch’s appointment, the Company and ValueAct entered into a Nomination and Cooperation Agreement, which will be filed as part of a Current Report on Form 8-K.

 

About LKQ Corporation

LKQ Corporation (www.lkqcorp.com) is a leading provider of alternative and specialty parts to repair and accessorize automobiles and other vehicles. LKQ has operations in North America, Europe and Taiwan. LKQ offers its customers a broad range of replacement systems, components, equipment, parts and services to repair and accessorize automobiles, trucks, and recreational and performance vehicles.