Boyd Group Services appoints new CEO

Boyd Group Services Inc., known for its operation of collision repair centers, has announced a change in leadership, with Chief Operating Officer Brian Kaner set to become the new CEO starting in May. He will be taking over from Timothy O'Day, who has been at the helm since 2020.

O'Day's tenure began after Boyd's acquisition of Gerber Collision & Glass in 2004, marking a significant period in the company's history.

Analyst Daryl Young from Stifel noted the change as marking the end of an era, given O'Day's and former CEO Brock Bulbuck's long-standing and highly-regarded leadership within the collision repair industry.

Kaner, who joined Boyd in 2022, initially oversaw the company's collision operations. His role expanded when he was appointed President and COO of Boyd, a position that gave him responsibility over the entire company. This was a strategic move that coincided with O'Day stepping down from the President title.

The CEO transition, set to take place on May 14, is seen by RBC as a natural progression, considering Kaner's increased engagement with the investment community and his growing influence in the company's operations over the past six to twelve months.

RBC expressed confidence in Kaner's ability to lead Boyd Group Services into its next phase of growth.

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Source: Investing.com