LKQ Corporation Announces Director Resignation
January 02 2019 - 3:00AM
LKQ Corporation Announces Director Resignation
LKQ Corporation (Nasdaq: LKQ) announced Sukhpal Singh Ahluwalia has
resigned from his positions as a Director of LKQ Corporation and as
Executive Chairman of its Euro Car Parts (ECP) subsidiary in the
United Kingdom, effective today.
Sukhpal founded a company forty years ago that
eventually became Euro Car Parts, which has grown to be the leading
distributor of aftermarket automotive parts in the UK. Sukhpal sold
ECP to LKQ in late 2011 and stayed on as CEO until 2014 when he
became Executive Chairman. Over the past several years Sukhpal and
his three sons have developed a substantial property business in
the United Kingdom, where more recently he has focused most of his
time and energy.
Dominick Zarcone, President and Chief Executive
Officer of LKQ Corporation, stated, “Sukhpal has been a key partner
with LKQ over the past seven years as we have quadrupled the size
of our business in the U.K., and he has served as a valued LKQ
board member. While we will miss his insights, we respect his
desire to spend all his time focused on the family property
business and wish him nothing but the best in those
endeavours.”
Sukhpal Singh commented, “ECP has been my life’s
work and there will always be a bit of the company in me. I have
enjoyed my relationship with LKQ but the time has come for a change
so I can devote my full abilities to building the property business
with my sons. I am confident in the strategy LKQ has for its
European segment and for the next level of growth and operational
excellence at ECP.”
Joseph M. Holsten, Chairman of the Board of LKQ
stated, “All of us at LKQ thank Sukhpal for everything he has done
to build ECP over the years and extend our best wishes for much
continued success.”
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 and parts to repair and accessorize
automobiles, trucks, and recreational and performance vehicles.
Media Contacts:
Joseph P. Boutross LKQ CorporationVice
President, Investor Relations(312)
621-2793jpboutross@lkqcorp.com
Guido Weber- LKQ EuropeDirector, Corporate
Communications & Government Affairs+49 (0) 8121
707-77151guido.weber@stahlgruber.de
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