)
Angus McKay, the CEO of embattled auto equipment retailer Bapcor (ASX: BAP), has resigned just three weeks after the company affirmed his future in the role amid the latest leadership shakeup for the group.
Bapcor has moved quickly to replace McKay by naming automotive retail industry veteran Chris Wilesmith, a former Super Retail Group (ASX: SUL) executive, as its new CEO.
The resignation of McKay follows board changes announced on 24 November including the appointment of Lachlan Edwards as chair of Bapcor – replacing McKay who was executive chair.
At the time, Bapcor affirmed McKay’s role as CEO and his commitment to lead the group’s five-year turnaround strategy.
“On behalf of the Bapcor board, I want to thank Angus for his contribution to the company,” says Edwards in an announcement to the ASX today.
“In his 16 months with Bapcor, there has been significant progress in simplifying the company. With our business foundations stabilised, Bapcor is now focused on its recovery and growth.”
The Bapcor group, which owns high-profile retail businesses Autobarn, Autopro, Midas and ABS auto service centres, has been hit by a challenging consumer market, particularly its Trade division, which includes Burson Auto Parts.
The company last week downgraded its earnings target for the first half of FY26 to a loss of between $5 million and $8 million. This compares with a $40.8 million statutory profit a year earlier and a previous profit target of between $3 million and $7 million.
This pushed the company’s share price below $2 for the first time in more than a decade to a low of $1.67
Bapcor says Wilesmith brings to the top job extensive experience in the automotive aftermarket industry covering trade, retail and supply chain operations in Australia and New Zealand.
Wilesmith has worked with some of Bapcor’s key suppliers and competitors, including as CEO of Jaycar Electronics, CEO of Mitre 10 (New Zealand) and 13 years as part of Super Retail Group’s executive leadership team. This includes seven years as managing director of Supercheap Auto.
“Chris brings deep and broad automotive aftermarket experience to Bapcor,” says Edwards.
“His previous senior roles in growing businesses in each of Bapcor’s segments will be critical to take our businesses into their next phase of driving growth and performance.
“Combined with Craig Magill running the Trade and Networks segments, Bapcor has two very strong and experienced leaders who have a deep understanding of the automotive aftermarket industry.”
Magill, who has 13 years of experience at Bapcor, was appointed into the expanded role of executive general manager of Networks in June this year.
Wilesmith, who left Jaycar in February last year and is currently CEO of Greek renewable energy group WRE, will assume the role of Bapcor CEO on 14 January 2026.
Bapcorp's shares were trading 11c, or 6 per cent, higher at $1.885 at 11.53am (AEDT).
)
