Long-serving CarSales CEO Greg Roebuck retires
22 Jan 2017
CarSales (ASX:CAR) announced that Greg Roebuck, the company’s managing director (MD) and chief executive officer (CEO) since 2002, will retire from his position. The board appointed Cameron McIntyre, currently CarSales’ chief operating officer (COO), as Roebuck’s successor effective March 17.
Roebuck opted to step down from the CarSales board, to “give Cameron a clear runway” as the incoming CEO. But, he will remain close to the business, the company said.
Roebuck is not taking up another executive role, and will ensure a smooth transition to the new leadership by working with McIntyre in the transition period over the next eight weeks. He is looking forward to retirement and spending more quality-time with his family and friends, while indulging his passion for learning and travel, the company said.
Jeffrey Browne, chairman of the CarSales board, said Roebuck will leave the company in a very strong position. He added that the board is extremely grateful for Roebuck’s leadership and for his outstanding contribution, which has seen CarSales develop from a loss-making start-up, to an ASX top-100 business with a market capitalization of $2.7 billion AUD.
In December, we wrote (here) about the list Germany’s Axel Springer had compiled of “The 15 biggest classifieds companies in the world as measured by 2015 revenue”. CarSales.com appeared in 13th position on that list.
Browne commented: “Greg co-founded CarSales in 1997, and has been responsible for its outstanding development and for staying No. 1 in the Australian market for auto sites. He put in place and inspired an immensely talented team with an innovative, ‘can-do’ culture.”
Cameron McIntyre (46) started his career at CarSales in May 2007 as chief financial officer and company secretary. He played a key role in the IPO of the company in September 2009.
In October 2014, Cameron became chief operating officer of the company and his responsibilities grew to include the oversight of CarSales editorial, marketing, RedBook and data services.
His fixed salary will be $1.3 million AUD per year. Read the company announcement here.