Summary
Copart, Inc. (CPRT) announced a significant leadership transition within its legal department via an 8-K filing on June 8, 2016. Paul A. Styer, the long-standing Senior Vice President, General Counsel, and Secretary, has tendered his resignation from these roles, effective July 31, 2016. Mr. Styer has been a pivotal figure at Copart since 1992, contributing extensively to the company's growth and legal framework. His departure from these key executive positions marks the end of an era for the company's legal operations.
Key Highlights
- 1Paul A. Styer, Senior Vice President, General Counsel, and Secretary, is resigning effective July 31, 2016.
- 2Gregory R. DePasquale, current Vice President, Deputy General Counsel, and Assistant Secretary, will succeed Mr. Styer.
- 3Mr. Styer has been with Copart since September 1992, holding various senior legal roles.
- 4Mr. DePasquale has been with Copart since October 1998, steadily progressing in the legal department.
- 5Mr. Styer will continue to serve the company in a new capacity as Assistant Secretary and will advise on corporate strategy and special projects.
- 6The transition appears to be planned and well-managed, with a successor already in place within the company's legal team.
Frequently Asked Questions
The filing states that Mr. Styer notified Copart of his resignation from these specific roles. While the exact reasons for his departure from these executive positions are not detailed, he will continue to be involved with the company in a different capacity.
Gregory R. DePasquale, currently the Vice President, Deputy General Counsel, and Assistant Secretary, will succeed Mr. Styer as Senior Vice President, General Counsel, and Secretary.
No, Mr. Styer will remain with Copart. He will transition to the role of Assistant Secretary and will continue to provide counsel on corporate strategy and special projects.
Mr. Styer began his career with Copart in September 1992, and Mr. DePasquale joined the company in October 1998.