FAIRFIELD, CA - Copart Inc. said that company founder Willis J. Johnson has relinquished the title and responsibilities of CEO to A. Jayson (Jay) Adair, who previously served as company president.
Johnson will continue as chairman of the board and as an executive officer and will remain actively involved with the company, primarily in mergers and acquisitions and other strategic planning.
Copart, founded in 1982, provides vehicle sellers with services to process and sell salvage and clean title vehicles. Copart remarkets the vehicles through Internet sales using its VB2 technology.
Adair had served as company president since November 1996. He's been a director since September 1992.
Adair is a longtime executive with the company. From April 1995 until October 1996, he was executive vice president. From August 1990 until April 1995, he served as vice president of sales and operations, and from June 1989 to August 1990, he was manager of operations.
"Jay is ready and has earned the opportunity to assume the responsibilities as Copart's chief executive officer," 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 rollout in 2003. I am completely confident in his ability to continue the development and growth of Copart."
Vincent W. Mitz, who previously was Copart's executive vice president, assumes the role of company president.
Mitz had served as executive vice president since August 2007. From May 1995 until July 2007, he was senior vice president of sales and marketing. Prior to that, Mitz was employed by NER Auction Systems from 1981 until its acquisition by Copart in 1995.
In other company news, Copart announced that Allstate Corp. had contracted Copart to be the insurer's exclusive salvage auction provider.