CDK Global Names Brian Krzanich President and Chief Executive Officer
Brian MacDonald Steps Down
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“In evaluating the future of CDK, the Board and
Krzanich served as Intel’s CEO from
“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
“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,
With more than
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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.
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1 Effective following the filing of the CDK 10-Q post market
CDK Global, Inc.
Sard Verbinnen & Co
Jim Barron/Emily Claffey/TJ White
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