CDK Global Inc. CEO Brian Krzanich has resigned from the corporate following the completion of its sale final week to funding agency Brookfield Business Partners.
CDK stated in a regulatory submitting Tuesday that Krzanich, 62, notified the corporate final Wednesday that he would step down from his roles as president and CEO of the dealership know-how big based mostly in Hoffman Estates, Ill., as of Monday, July 11. CDK stated former CEO Brian MacDonald, who led the corporate from January 2016 to November 2018, took over the CEO function on an performing foundation as of Monday.
“CDK is a mission-critical software platform for automotive commerce with a bright future, and I am excited about our path forward and accelerated growth,” MacDonald, 57, stated in an announcement Tuesday.
The change is amongst a number of executive-level modifications CDK disclosed Tuesday within the regulatory submitting.
As of Monday, Joe Tautges, 46, not serves as COO however stays with the corporate as a particular adviser to the CEO. Amy Byrne, 51, chief human assets officer, will depart her function as of Friday, whereas CFO Eric Guerin, 51, will depart July 22.
CDK stated within the submitting that it “initiated certain organizational design and staffing changes to streamline operations and the reporting structure of the Company in order to improve operational delivery and performance.”
Before his earlier time at CDK, MacDonald was CEO of Hertz Rental Equipment Corp. and interim CEO of Hertz Corp. He additionally held roles with Sunoco, General Motors and Isuzu Motors. MacDonald has served on the board of Suncor Energy Inc. since July 2018.
“We are pleased to welcome Brian MacDonald, a respected executive with deep expertise in automotive retail, back to CDK,” Doug Bayerd, a director on CDK’s board, stated in an announcement. “He joins an experienced team to help enhance CDK’s value proposition for its customers.”
MacDonald will obtain an annual base wage of $1 million, plus bonus and incentive advantages, in response to the regulatory submitting.
CDK final week accomplished its sale to Brookfield Business Partners — a unit of worldwide different asset administration agency Brookfield Asset Management’s non-public fairness group — in a roughly $8.7 billion transaction. CDK’s inventory is not publicly traded.