- Along with its FQ1 results, Copart (NASDAQ:CPRT) has announced Jeffrey Law, formerly the CFO of truck/trailer part distributor FleetPride and before that a principal at P-E firm TPG Capital, is its new CFO, effective Jan. 4. He replaces William Franklin, who will remain Copart's EVP for U.S. operations and shared services.
- The car auction site and marketing service provider has also announced it plans to buy back up to 7.32M shares (6.1% of outstanding shares) at prices between $38 and $41 through a Dutch auction tender offer set to run from Nov. 24 to Dec. 23. At $41, Copart would be spending $300M on the buyback.
- Shares have risen to $38.10 after hours.
- Copart's FQ1 miss, earnings release