# LKQ Corporation leadership and financial changes > Developing situation record from CLSTR: https://clstr.news/situations/lkq-corporation-leadership-and-financial-changes > Updated: 2026-10-26T18:30:23.000Z. Sources: 5. Developments: 2. LKQ Corporation announced a significant leadership transition and a downturn in its preliminary third-quarter 2026 financial results. Chief Executive Justin Jude and Andy Hamilton, President and Managing Director of LKQ Europe, departed the company in late October. The company reported an expected third-quarter net loss between $16 million and $32 million, a sharp decline from the $178 million net income reported during the same period the previous year. This decline was attributed to weakness in the European market, including disruptions from an ERP implementation in Germany and reduced unit movement in the United Kingdom and Benelux. Consequently, LKQ withdrew its full-year 2026 financial guidance and retained the consulting firm Alvarez & Marsal to advise on European operations. Following the announcement, the company confirmed the appointment of Salvatore ‘Sal’ Abbate as President and CEO, effective December 15, 2026. Abbate, who has extensive experience in large-scale distribution, succeeds Jude. During the interim period, the company is led by an Office of the CEO consisting of Board Chairman John Mendel and Audit Committee Chair Sue Gove. ## Timeline ### 2026-10-26: LKQ Corp. appoints Salvatore Abbate as new CEO LKQ Corporation has named Salvatore Abbate as president and CEO, effective December 15, 2026, succeeding Justin Jude. Abbate brings decades of distribution and industrial leadership experience. 2 sources. https://clstr.news/cluster/lkq-corp-appoints-salvatore-abbate-as-new-ceo ### 2026-10-24: LKQ Corporation announces CEO departure and third-quarter loss LKQ Corporation announced the immediate departure of CEO Justin Jude and a projected third-quarter net loss of up to $32 million, driven by operational challenges and declining sales in Europe. 3 sources. https://clstr.news/cluster/lkq-corporation-announces-ceo-departure-and-third-quarter-loss --- Cite as: LKQ Corporation leadership and financial changes. CLSTR, https://clstr.news/situations/lkq-corporation-leadership-and-financial-changes