SYDNEY, AUSTRALIA: The Bapcor Limited board announced that Darryl Abotomey, Chief Executive Officer  and Managing Director will retire on 28 February 2022.

Mr Abotomey has been with Bapcor for 10 years, and will remain available to the company until 30 June 2022 to assist with an orderly transition.

Mr Abotomey was appointed CEO and Managing Director in September 2011. The Board thanks him for his 10 years of service and the significant commitment and contribution he has made to the business over that time. This includes Bapcor’s listing on the ASX in April 2014, driving the strong performance of the company and executing on its strategic growth plan.

Mr Abotomey commented, “It has been a privilege to lead the Bapcor business over the last decade and see the company’s transformation over that time. With a strong operating and financial position, it feels like an appropriate time in the company’s journey to step back and retire. I have appreciated and thank Bapcor’s passionate team members, franchisees, suppliers and shareholders for their support over the past ten years.”

An extensive global search process has commenced to appoint a permanent CEO. If a permanent CEO has not been appointed by 28 February 2022, Bapcor Non-Executive Director Mark Powell will assume the role of Acting CEO.

The Chair, Margie Haseltine said: “On behalf of the Board and the Bapcor team we thank Darryl for his outstanding commitment and wish him well for the future.”

The Board notes the company’s record full-year FY21 results and confirms there is no change to previously issued financial guidance. www.bapcor.com.au