LKQ Corporation has appointed Salvatore A. Abbate as president and CEO, effective December 15, 2026, following the departure of Justin Jude.

Until Abbate takes over, LKQ chairman John Mendel and Sue Gove, chair of the company’s Audit Committee, will form an interim Office of the CEO. The office will work with LKQ’s leadership team to oversee operations and maintain continuity during the transition.

The leadership change comes as the automotive parts distributor reported preliminary, unaudited third-quarter results showing lower revenue and adjusted earnings, with significant weakness in its European operations.

LKQ expects revenue of US$3.32 billion for the quarter ended September 30, down from US$3.50 billion a year earlier. Organic revenue from parts and services declined 5.4%.

The company anticipates a net loss of US$16 million to US$32 million, compared with net income of US$178 million in the third quarter of 2025. The expected loss includes US$111 million in non-cash impairment charges.

Diluted loss per share is forecast at US$0.06 to US$0.12, compared with earnings of US$0.69 per share a year earlier. Adjusted diluted earnings per share are expected to range from US$0.47 to US$0.53, down from US$0.84.

Europe was the primary source of underperformance, with organic parts and services revenue declining 9.8%. The segment’s EBITDA margin is expected to range from 4.1% to 5.1%, compared with 10% in the same period last year.

LKQ attributed the European results to operational disruptions related to the implementation of an enterprise resource planning (ERP) system in Germany, as well as lower volumes in the United Kingdom and Benelux markets.

The Specialty segment also came in slightly below expectations, while North America performed in line with the company’s forecasts despite softer market conditions.

LKQ said the leadership and operational actions are intended to address recent performance and improve execution under the incoming CEO.

The company is scheduled to release its full third-quarter results on October 29, 2026, followed by a conference call.

Considering the third quarter results in Europe and the appointment of Mr. Abbate as President and Chief Executive Officer, effective December 15, 2026, LKQ is withdrawing its full-year 2026 guidance, which was most recently updated on July 30, 2026.

In connection with the board’s ongoing review of strategic alternatives, the company has taken several actions, including appointing Abbate as the company’s next President and Chief Executive Officer, implementing leadership changes within its European operations, and retaining A&M to advise the company with respect to its European operations. The company says will provide additional updates regarding the strategic alternatives process as appropriate.