– Joseph M. Holsten Elected Vice Chairman
– Robert L. Wagman Appointed as President and Co-Chief Executive Officer
CHICAGO, Dec. 7, 2010 (GLOBE NEWSWIRE) -- LKQ Corporation (Nasdaq:LKQX) today announced that the Board of Directors elected Joseph M. Holsten to the role of Vice Chairman of the Board. In addition, the Board appointed Robert L. Wagman to the position of President and Co-Chief Executive Officer effective January 1, 2011. Mr. Holsten, who has served as President and Chief Executive Officer since November 1998, will continue to serve as Co-Chief Executive Officer.
In conjunction with the management changes, Mr. Holsten announced his intention to resign from his officer position with the Company on or about December 31, 2011. After his resignation, Mr. Holsten intends to remain actively engaged with the Company as Vice Chairman of the Board and as a consultant regarding operations and corporate strategy.
Commenting on the changes, Donald Flynn, Chairman of LKQ Corporation said, "Having Joe and Rob act as Co-CEO's for the next year and having Joe agree to continue as Vice Chairman thereafter provides for an orderly succession plan and ensures management continuity as we continue to implement our growth and operations strategies."
About LKQ Corporation
LKQ Corporation is the largest nationwide provider of aftermarket collision replacement products, recycled products and refurbished collision replacement products such as wheels, bumper covers and lights. LKQ operates more than 300 facilities offering its customers a broad range of replacement systems, components, and parts to repair automobiles and light, medium and heavy-duty trucks.
Forward Looking Statements
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