Judd Shader, the founder and current CEO of Leeds West Groups, is moving into a new role as executive chairman of the company. Derek Wessels, current chief operating officer and president of the automotive business, has assumed the role of CEO.
Wessels will run the day-to-day business and operations of Leeds West Groups, which includes 123 automotive retail locations in 18 states.
Wessels, who the company says has "worked closely with Shader over the last three years," has more than 20 years of automotive retail management experience, including many years working within Bridgestone Retail Operations as a senior management leader for the Firestone Complete Auto Care business.
“I would like to thank Judd and the board for their confidence in my leadership abilities as I take on the role of the company’s CEO," says Wessels. "Together, we’ve worked to build a powerhouse. I’m looking forward to drawing on this talented team assembled to implement our strategic initiatives that will take LWG to its next level of growth. I’m fully committed to providing our team with the highest level of support possible.”
In an additional leadership move, Joshua Weinreich, current board chairman, will become a member of the board. Weinreich has served as chairman of the board since the board was founded in 2017.
All of the moves were effective Jan. 1.
In Shader’s new role, he will focus on the growth and expansion of the company from a global perspective across all of its investment platforms.
“I’m looking forward to focusing my time and energy on guiding the strategic direction of LWG to ensure it remains the vibrant, successful company it is today on a strong growth trajectory across all of our platforms,” says Shader. “I am confident in Derek’s leadership as CEO in running the day to day operations of the company. I know he will give world class support to the team to succeed at the highest level while fostering and building on the culture we have relentlessly put in place since his arrival to the platform.”
Weinreich says, “LWG is at an exciting point and this leadership transition is a natural progression of a well-run, high-growth organization. I was honored to serve as the chairman of the board, and I look forward to supporting Derek and Judd while continuing to serve as a board member."
