Copart, Inc. has announced the addition of three individuals to its senior executive leadership team: David Kang as chief marketing officer, Neel Madhvani as chief product officer, and Hessel Verhage as chief operating officer.
Meanwhile, Stephen Powers, who has served as COO since October 2020, is transitioning to the role of chief business development officer. He will oversee a smooth transfer of operational responsibilities to Hessel.
All four executives will be based at Copart's global headquarters in Dallas, Texas and will report to co-CEO Jeff Liaw.
A press release has shared that Powers, with a career spanning over 40 years in the industry, will now lead the real estate acquisition, facility development teams, and initiatives to foster growth across Copart's diverse lines of business, including Purple Wave and National Powersport Auctions (NPA). Previously, as COO, Steve spearheaded major initiatives, such as real estate acquisition and development, catastrophic event response, and the development of the company’s logistics fleet.
In his new role, Kang will lead Copart’s marketing functions, overseeing marketing analytics, brand management, communications, digital strategy, and global member development, as well as the Cash for Cars business. Kang brings extensive experience in marketing and data analytics to his new role, having previously served as SVP for consumer auto finance’s data insights and CMO at Capital One. Before that, he held leadership roles at McKinsey & Co, supporting clients in the fields of travel, transportation, and logistics.
With extensive experience in product development, Madhvani will lead Copart’s initiatives in new product development in close collaboration with sales, marketing, operations, and technology teams. Madhvani previously served as VP for product at Chewy and held roles in product development, marketing, strategy, and innovation at Boxed and Staples.
Verhage will oversee Copart’s operations across over 200 locations, focusing on optimizing processes and technology to ensure excellent service for Copart’s sellers and members. Hessel previously served as an executive at DB Schenker, where he led the global contract logistics operations.
Liaw has welcomed the new appointments, and said: “I'm delighted to appoint these four exceptional leaders to their new positions.” He commended Powers for his “invaluable knowledge, experience, and relationships” cultivated over his 40-year career. Liaw also expressed excitement about the new additions to the leadership team, lauding Dave's marketing and auto finance expertise, Neel's relevant product development experience, and Hessel's notable experience in operational leadership.
“They and the exceptional people on their teams will help drive our company forward,” said Liaw.
Have thoughts about this story? Leave a comment below.