Jeff Liaw has been appointed by Dallas-based Copart Inc. as the company’s sole chief executive officer and as a member of its board of directors. Liaw has been serving as co-CEO since March 2022.
Also, the company said that Jay Adair, who served as CEO from February 2010 to February 2022 and as co-CEO along with Liaw since March 2022, will step down from that role.
“Today’s appointment of [Liaw] 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,” said Willis Johnson, who will remain chairman of the board of directors.
In a statement, Johnson said Adair’s “thoughtful succession planning” has positioned the company for a seamless transition of responsibilities.”
According to Copart, the board of directors has appointed Adair as executive chairman, and he will remain an active executive officer of the company in that capacity. All the changes are effective April 1.
Liaw joined Copart in 2016 as chief financial officer 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.
“I congratulate Jeff on his continued success in leading Copart. Jeff thinks like a founder, and I have no doubt he will continue to grow Copart in the years ahead with a profound focus on our customers and employees,” Adair said.
Founded in 1982, Copart Inc. offers services to process and sell vehicles to dealers, dismantlers, rebuilders, exporters, and to the general public. The company’s innovative technology and online auction platforms link sellers to more than 750,000 members in over 190 countries.
Copart offers services to process and sell vehicles to dealers, dismantlers, rebuilders, exporters, and to the general public. Copart sells vehicles on behalf of insurance companies, banks, finance companies, charities, fleet operators, dealers, vehicle rental companies, and individuals.
With operations at over 250 locations in 11 countries, Copart has more than 265,000 vehicles available online every day.
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