Changing of the guard at LKQ
Published: 22 September, 2022
A new CEO and M.D for ECP parent LKQ Europe has been appointed.
Executive Vice President and Chief Financial Officer Varun Laroyia is taking on the role, succeeding Arnd Franz who is leaving to join Mahle as CEO, where he spent 18 years prior to joining LKQ Europe.
Commenting on the appointment of Varun Laroyia, LKQ Corporation President and CEO Dominick Zarcone said: “With his tremendous leadership and knowledge of the company and our European markets, I am thrilled that Varun is taking this role.”
Varun Laroyia commented, “I am excited by the opportunity to take on the role of CEO of LKQ Europe and lead the largest distributor of automotive mechanical parts in Europe.”
Andy Hamilton, CEO of LKQ Euro Car Parts in the UK and Republic of Ireland, added: “Our efforts to integrate our UK, Irish and European businesses over the past couple of years have made us stronger – and in doing so, we’re making our customers stronger, too. We have unrivalled scale, experience, capability and buying power, which puts us in a unique position when it comes to representing the best interests of the independent workshop with suppliers and decision makers. We continue to be committed to offering a market-leading customer experience, and I look forward to building on this with Varun and the European team.”
- ECP announces new CEO
Euro Car Parts announced today (Wednesday 2 January 2019) that Andy Hamilton has been appointed CEO of the ECP Group, effective immediately, replacing Martin Gray who has decided to leave the company to pursue other interests.
- LKQ Europe teams up with CECRA
LKQ Euro Car Parts parent LKQ Europe has teamed up with CECRA, the European Council for Motor Trades and Repairs.
- LKQ Europe buys Dutch salvage and reman company
LKQ Europe has bought Rhenoy Group, the Holland-based salvager and supplier of remanufactured engines, and recycled OEM car parts for an undisclosed amount
- Full year and Q4 growth for LKQ Europe
LKQ Corporation, the parent company of LKQ Europe, recently reported fourth quarter and full year 2021 results, with full year revenue growth of 10.4% to $6.1 billion, with earnings before interest, taxes, depreciation, and amortization (EBITDA) margin at 10.2%. Fourth quarter growth was 4.4% up at $1.5 billion. The segment EBITDA margin for the fourth quarter was 8.9%.
- LKQ Europe opens Innovation and Service Centre
LKQ Europe is opening a new Innovation and Service Centre in Katowice, Poland.
Commenting on the new facility, LKQ Europe CEO Arnd Franz said: “The establishment of the Innovation and Service Centre in Katowice will boost LKQ Europe`s innovation and digitalisation strategy. The city offers an outstanding infrastructure and international talent, and I am delighted that LKQ will be part of its success story. We are seeking the most qualified people and offering them an international working atmosphere and a unique business experience to support our customers across Europe, today and in the future.”
Andy Hamilton, CEO of LKQ Euro Car Parts in the UK and Republic of Ireland, added: “Digitalisation is key to the continued competitiveness of the independent aftermarket, and as its leading supplier – not just of parts, but of solutions, equipment and training – it’s our responsibility to drive this agenda forward, right along the value chain.”
