LKQ announces leadership changes

LKQ Corporation has announced a series of new leadership appointments.

Varun Laroyia, executive vice president and chief financial officer, has been appointed as chief executive officer and managing director of LKQ Europe, succeeding Arnd Franz.#

Meanwhile, Rick Galloway, chief financial officer of LKQ’s Wholesale – North America and Self Service segments, has been appointed as LKQ’s senior vice president and chief financial officer.

Laroyia said: “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. I look forward to working with all our key stakeholders, including our customers, vendor partners, and talented team across Europe, to accelerate progress on the tremendous opportunities that exist within our European business. My priorities will be to deepen our competitive position, grow the business faster than the market, continue the earnings momentum, and generate free cash flow.”

Galloway said: “LKQ is well positioned for long term success, and I look forward to driving our financial and strategic initiatives, as well as continuing to execute on our balanced capital allocation strategy, alongside our outstanding finance organisation.”