Brian MacDonald Steps Down
CDK Global, Inc. (Nasdaq: CDK), a leading enabler of
end-to-end automotive commerce, today announced that Brian
Krzanich, 58, former chief executive officer of Intel, has joined
CDK Global as president and chief executive officer (CEO) and a
member of the Board of Directors (Board).1 Krzanich succeeds Brian
MacDonald who will assist in the transition.
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Brian Krzanich, president and chief
executive officer, CDK Global (Photo: Business Wire)
“In evaluating the future of CDK, the Board and Brian MacDonald
concluded that this is the right time to bring in a proven
technology CEO to drive top-line growth and help CDK take full
advantage of its many opportunities,” said Leslie Brun, chairman,
Board, CDK Global. “We are thrilled to welcome Brian Krzanich to
CDK. With 36 years of experience at Intel, Krzanich combines an
exceptional track record of creating shareholder value with exactly
the right combination of technology and strategic leadership
experience to enable CDK to deliver on its enormous promise. The
Board has full confidence that he has the talent and expertise
necessary to lead CDK as it pursues a growth strategy.”
Krzanich served as Intel’s CEO from May 2013 to June 2018. As
CEO, he led Intel’s corporate strategy and operations, including
development of Intel’s business model and identifying emerging
technologies. Krzanich joined Intel in 1982, became a corporate
vice president in 2006, and served until 2010 as vice president and
general manager of Assembly and Test. He was senior vice president
and general manager of Manufacturing and Supply Chain from 2010 to
2012. He became executive vice president and chief operating
officer in 2012, responsible for global manufacturing, supply
chain, human resources, and information technology.
“CDK has a leadership position in a dynamic and rapidly evolving
automotive technology market, and I am energized by the chance to
help grow this unique company and take it to the next level,” said
Krzanich. “The automotive industry is undergoing changes that will
impact and present opportunities for dealers, OEMs, consumers and
the technology ecosystem that serves them. I look forward to
working closely with the CDK Board, management team and employees
to enable CDK to meet its full potential to generate value for all
of its stakeholders.”
Brun added, “On behalf of the entire Board, I want to thank
Brian MacDonald for the superb progress he has made in transforming
CDK operations and cost structure, which has created a solid
foundation for future growth and shareholder value-creation.”
“I’m proud of the progress we’ve made at CDK and believe the
company is ready to capitalize on the significant opportunities in
front of it,” said MacDonald. “Over the past few years, we have met
our transformation plan goals and strengthened our commitment to
our core products, while significantly improving our ability to
meet customer needs. With the recent acquisition of ELEAD1ONE, CDK
has enhanced its core automotive software capabilities and is well
positioned for future growth. I am committed to a seamless
leadership transition, and I wish Brian and our entire team
success.”
Mr. Krzanich and Mr. MacDonald will both participate in the CDK
FY19 Q1 earnings call to be held today, Wednesday, November 7,
2018, at 8:30 a.m. ET.
About CDK Global
With more than $2 billion in revenues, CDK Global (Nasdaq: CDK)
is a leading global provider of integrated information technology
and digital marketing solutions to the automotive retail and
adjacent industries. Focused on enabling end-to-end automotive
commerce, CDK Global provides solutions to dealers in more than 100
countries around the world, serving approximately 30,000 retail
locations and most automotive manufacturers. CDK solutions automate
and integrate all parts of the dealership and buying process from
targeted digital advertising and marketing campaigns to the sale,
financing, insuring, parts supply, repair, and maintenance of
vehicles. Visit cdkglobal.com.
Safe Harbor for Forward-Looking Statements
This press release contains "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of
1995. All statements, other than statements of historical fact,
including: the Company’s business and growth outlook; the
Company’s objectives for its multi-year business transformation
plan; other plans; objectives; forecasts; goals; beliefs; business
strategies; future events; business conditions; results of
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These statements are based on management's expectations and
assumptions and are subject to risks and uncertainties that may
cause actual results to differ materially from those expressed, or
implied by, these forward-looking statements.
Factors that could cause actual results to differ materially
from those contemplated by the forward-looking statements include:
the Company’s success in obtaining, retaining and selling
additional services to customers; the pricing of products and
services; overall market and economic conditions, including
interest rate and foreign currency trends, and technology trends;
adverse global economic conditions and credit markets and
volatility in the countries in which we do business; auto sales and
advertising and related industry changes; competitive conditions;
changes in regulation (including future interpretations,
assumptions and regulatory guidance related to the Tax Cuts and
Jobs Act); changes in technology, security breaches, interruptions,
failures and other errors involving the Company’s systems;
availability of skilled technical employees/labor/personnel; the
impact of new acquisitions and divestitures; employment and wage
levels; availability of capital for the payment of debt service
obligations or dividends or the repurchase of shares; any changes
to the Company’s credit ratings and the impact of such changes on
financing costs, rates, terms, debt service obligations, access to
capital market and working capital needs; the impact of the
Company’s indebtedness, access to cash and financing, and ability
to secure financing, or financing at attractive rates; litigation
involving contract, intellectual property, competition,
shareholder, and other matters, and governmental investigations;
the Company’s ability to timely and effectively implement its
transformation plan; and the ability of the Company’s significant
stockholders and their affiliates to significantly influence the
Company’s decisions or cause it to incur significant costs.
There may be other factors that may cause the Company’s actual
results, performance or achievements to differ materially from
those expressed in, or implied by, the forward-looking statements.
The Company gives no assurances that any of the events anticipated
by the forward-looking statements will occur or, if any of them do,
what impact they will have on its results of operations and
financial condition. You should carefully read the factors
described in the Company’s reports filed with the SEC,
including those discussed under "Part I, Item 1A. Risk Factors" in
its most recent Annual Report on Form 10-K and its most recent
Quarterly Report on Form 10-Q for a description of certain risks
that could, among other things, cause the Company’s actual results
to differ from any forward-looking statements contained herein.
These filings can be found on the Company’s website at
www.cdkglobal.com and the SEC's website
at www.sec.gov.
All forward-looking statements speak only as of the date of this
press release even if subsequently made available by the Company on
its website or otherwise. The Company disclaims any obligation to
update or revise any forward-looking statements that may be made to
reflect new information or future events or circumstances that
arise after the date made or to reflect the occurrence of
unanticipated events, other than as required by law.
1 Effective following the filing of the CDK 10-Q post market
close on November 7, 2018.
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version on businesswire.com: https://www.businesswire.com/news/home/20181107005290/en/
CDK Global, Inc.Media Contact:Roxanne
Pipitone847.485.4423Roxanne.pipitone@cdk.comorSard Verbinnen &
CoJim Barron/Emily Claffey/TJ White212.687.8080orInvestor
Relations Contact:Katie
Coleman847.485.4650katherine.coleman@cdk.com
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