Online vehicle auctioneer Copart NASDAQ:CPRT said on Monday Jeff Liaw will step down as chief executive officer and director, effective July 31, 2026, with former CEO Jay Adair returning to the role.
• The company's board appointed executive chairman Jay Adair, who previously served as Copart's CEO, to succeed Liaw.
• Adair, who joined Copart in 1989 at age 19, served as the company's CEO from February 2010 to April 2024.
• Under Liaw's leadership, Copart achieved record-high transaction values, average selling prices and auction liquidity, Adair said.
• Copart operates at more than 250 locations across 11 countries, providing vehicle remarketing services to a wide range of sellers. It also auctions vehicles to dealers, exporters, rebuilders and the general public.