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Copart Names New CEO

Copart said that its founder and current chief executive officer and chairman of the board, Willis Johnson will relinquish the title and responsibilities of chief executive officer to Jayson Adair, president, effective February 15, 2010.

Mr Adair has served as president since November 1996 and as a director since September 1992. He served as executive vice president and vice president of sales and operations from August 1990 until April 1995. From June 1989 to August 1990, Mr Adair served as manager of operations.

In addition, Mr Adair will relinquish the title and responsibilities of president to Mr Vincent Mitz, current executive vice president.

Vincent Mitz has earlier served as senior vice president of sales and marketing. Prior to this, he was employed by NER Auction Systems from 1981 until its acquisition by Copart in 1995. At NER, Mr Mitz held various positions culminating as vice president of sales and operations for its New York region from 1990 to 1993 and vice president of sales and marketing from 1993 to 1995.

Mr Johnson will continue as chairman of the board and an executive officer and will remain involved with the company, primarily in mergers and acquisitions and other strategic planning.

Mr Johnson, said: “Jay has been with Copart for over 20 years and knows every aspect of the business. He has been a key driver in our growth, particularly with the adoption of technology and the use of the internet in our business. He designed VB2, our internet remarketing platform and led its roll out in 2003. I am completely confident in his ability to continue the development and growth of Copart.”