Justin Jude, who led Keystone Automotive Operations’ purchase of Stag-Parkway in 2014, participated Thursday in LKQ Corp.’s earnings call with analysts for the first time. Jude is scheduled to become LKQ’s CEO in July after current CEO Dominick Zarcone retires at the end of June.
Jude said he was honored to be selected as the company’s next CEO. He thanked Zarcone, the board and his family for their support.
He laid out four key priorities he plans to focus on during his time as CEO:
- Integrating businesses and simplifying LKQ’s operating model.
- Focusing on profitable revenue growth and sustainable margin expansion
- Driving high free cash flow levels, providing flexibility to maintain a balanced capital allocation strategy and return capital to shareholders.
- Investing in the company’s future.
To achieve the team’s goals and priorities, Jude said success will be rooted in three principles: People, growth and operational excellence. He pledged to create an employee-focused culture, centered around communication, accountability, integrity and respect. Jude said LKQ will drive revenue organically with increased share and opportunistic tuck-in acquisitions. Finally, he expects to hone lean management principles throughout the business.
“I am extremely excited about driving our mission forward and expanding a lean operating model across our entire organization with a primary objective to move swiftly,” Jude said. “LKQ has an extraordinary history and, importantly, an extremely bright future.”
