Bapcor’s interim CFO officially lands role

Bapcor’s interim chief financial officer, George Saoud has formally taken on the role after initially serving in an acting capacity. 

Bapcor, the ASX-listed parent of automotive retailers like Autobarn and Midas, George Saoud as its interim CFO back in March this year.

Saoud kicked off his acting CFO role mid-March while the company continued its search for an official replacement, only to land the role the company announced on Monday [pdf].

Saoud takes over from Stefan Camphausen who announced his resignation earlier this past January.

He will officially begin as the official CFO on 1 July, the company said.

Speaking on the news, Bapcor’s interim CEO and managing director, Mark Bernhard said, “Bapcor is delighted to confirm George’s permanent appointment as CFO following an extensive search.

“George is highly experienced and has held senior financial and commercial positions across a range of complex corporations including Coles Group, Metcash Supermarkets and Fantastic Holdings.

“George is a great addition to Bapcor’s Group leadership team and will be pivotal in driving the company’s performance in the future.”

On Monday, Bapcor also advised it has refinanced $200 million of debt facilities due to mature in July 2025 [pdf].

According to a statement, Bapcor increased the debt facility by $100 million to a total of $300 million split into tenors maturing in July 2028 and July 2029.

Saoud said, “We are pleased with the outcome of our refinancing. We appreciate the continued support of our banking partners, and with their support, Bapcor has strengthened its financial foundation.

“The new debt facility has competitive terms and pricing and provides the opportunity for us to prepare for future growth,” Saoud said.