The Boyd Group Income fund (The Boyd Group) announced its CEO succession plan and its second-quarter results during its conference call on Wednesday, Aug. 14.
The CEO succession plan will have the company’s current CEO, Brock Bulbuck, move into an executive chair role in 2020 and Tim O’Day, the current president and chief operating officer, succeed Bulbuck to become president and CEO, according to the company. These changes are expected to be effective Jan. 2, 2020. Company representatives stated O’Day’s chief operating officer responsibilities will be reallocated among existing key management personnel.
“Tim has played an integral role in the Boyd Group’s growth and success since joining us as chief operating officer U.S. operations in 2004 in conjunction with the acquisition of Gerber Collision. It is my intent to start to slow down as I enter my 60’s, and having Tim ready to step in to lead the company has made my decision, including timing, much easier,” said Bulbuck.
O’Day joined Gerber Collision & Glass in February 1998 and with Boyd Group’s acquisition of Gerber in 2004, he was appointed chief operating officer of Boyd’s U.S. Operations. In 2008, he was appointed president and chief operating officer for U.S. operations, and in January 2017 he was appointed president and chief operating officer for all of Boyd’s operations in both the U.S. and Canada.
“We continue to execute against a solid business strategy supported by an excellent long-tenured leadership team that has delivered outstanding results over the past several years. This leadership team, combined with Brock’s continuing support as executive chair, will provide for a smooth transition and will continue to position Boyd well for the future,” said O’Day.
The Boyd Group not only is a retail auto glass operator, but it also has collision repair centers across the United States and Canada. It operates Boyd Autobody & Glass, Gerber Collision & Glass, Gerber National Claim Services, Glass America and Assured Automotive.
The company reported strong growth in its financial results for its second quarter.