Copart, Inc. announced that Jeffrey Liaw will step down as Chief Executive Officer and director, effective July 31, 2026. The Board of Directors has appointed current Executive Chairman, A. Jayson Adair, to the role of CEO. Mr. Liaw will continue to support the company as a Senior Advisor for a one-year transition period.
Key Details
- Leadership Change: A. Jayson Adair, the company's Executive Chairman, will become Chief Executive Officer, a role he previously held.
- Transition Date: The CEO change is effective July 31, 2026. Jeffrey Liaw will resign as CEO and from the Board on this date.
- Advisory Role: Mr. Liaw will serve as a Senior Advisor to the new CEO until July 31, 2027, to ensure a smooth transition of customer relationships.
- Separation Agreement: In connection with his departure, Mr. Liaw is entitled to a $450,000 lump sum payment, $200,000 during the transition period, and his fiscal 2026 bonus. The agreement also waives a 10-year holding period on certain RSUs and eliminates price hurdles on performance-based stock options.