CDK International Inc. CEO Brian Krzanich has resigned from the corporate following the completion of its sale final week to funding agency Brookfield Enterprise Companions.

CDK stated in a regulatory submitting Tuesday that Krzanich, 62, notified the corporate final Wednesday that he would step down from his roles as president and CEO of the dealership know-how large based mostly in Hoffman Estates, Unwell., as of Monday, July 11. CDK stated former CEO Brian MacDonald, who led the corporate from January 2016 to November 2018, took over the CEO position on an performing foundation as of Monday.

“CDK is a mission-critical software program platform for automotive commerce with a brilliant future, and I’m enthusiastic about our path ahead and accelerated progress,” MacDonald, 57, stated in an announcement Tuesday.

The change is amongst a number of executive-level adjustments CDK disclosed Tuesday within the regulatory submitting.

As of Monday, Joe Tautges, 46, not serves as COO however stays with the corporate as a particular adviser to the CEO. Amy Byrne, 51, chief human sources officer, will depart her position as of Friday, whereas CFO Eric Guerin, 51, will depart July 22.

CDK stated within the submitting that it “initiated sure organizational design and staffing adjustments to streamline operations and the reporting construction of the Firm with a purpose to enhance operational supply and efficiency.”

Earlier than his earlier time at CDK, MacDonald was CEO of Hertz Rental Gear Corp. and interim CEO of Hertz Corp. He additionally held roles with Sunoco, Normal Motors and Isuzu Motors. MacDonald has served on the board of Suncor Power Inc. since July 2018.

“We’re happy to welcome Brian MacDonald, a revered govt with deep experience in automotive retail, again to CDK,” Doug Bayerd, a director on CDK’s board, stated in an announcement. “He joins an skilled crew to assist improve CDK’s worth proposition for its prospects.”

MacDonald will obtain an annual base wage of $1 million, plus bonus and incentive advantages, in line with the regulatory submitting.

CDK final week accomplished its sale to Brookfield Enterprise Companions — a unit of worldwide different asset administration agency Brookfield Asset Administration’s personal fairness group — in a roughly $8.7 billion transaction. CDK’s inventory is not publicly traded.