Bapcor lands new CEO

Bapcor, the ASX-listed parent of automotive retailers like Autobarn and Midas, has landed a new chief executive officer and managing director as Paul Dumbrell set sights on taking over from Noel Meehan.

Dumbrell steps over from Total Tools where he was the CEO for over five years and will officially kick off his new position on May 1.

Bapcor announced on Thursday Meehan will be stepping down from his current role as CEO and managing director in early February.

Dumbrell said, “After leaving Total Tools I had planned to take an extended break, but the opportunity to work alongside the Bapcor team is an exciting opportunity and I am very much looking forward to working with the leadership team and board to drive shareholder value.”

“I have a long history with Bapcor and I look forward to seeing the full potential of the broader Group realised into the future alongside the exceptional teams within the business.”

It’s understood Meehan opted to step away from his role due to personal and family reasons.

He first joined the vehicle parts manufacturer in 2020 as its chief financial officer before taking on the CEO spot in December 2021.

Meehan also set the path for Bapcor’s multi-year transformation ‘Better than Before’ project and led the transition to its new distribution centres in Victoria and Queensland,

Meehan said, “The role of CEO and managing director is demanding and after two years leading Bapcor through a period of significant change and transformation and establishing a solid base for future growth, I’ve decided it’s the right time for me, and my family, to move away from executive life and focus on what matters most.”

While Meehan will remain with the team to assist with the transition over to the new leadership, Bapcor non-executive director Mark Bernhard will perform the role of interim CEO and managing director.

Margie Haseltine, chair of Bapcor advised the board she will also not seek re-election at the 2024 AGM, to help with the transition.

Haseltine said, “In thinking about the future success of the business, and given Noel’s decision to retire from executive life, we are focused on ensuring that Bapcor has the right executive team to drive profitable growth and the right Board to give strategic oversight to the company.”

The Bapcor board has now commenced a search to find a new chair.