ABRA CEO to Step Down
May 3, 2016—ABRA Auto Body & Glass announced Monday that chief executive officer Duane Rouse will step down to assume the role of vice chairman of the board of directors.
ABRA has started a search for a replacement. Rouse will continue to serve as CEO until a replacement is found.
“As I prepare to step back from day-to-day operations and move into my new role, I want to thank our more than 5,000 employees who have been the secret to our success in growing into a leading national damaged vehicle repair company,” Rouse said. “I am confident that under the leadership of a new CEO, supported by our current best-in-the-business executive team, ABRA will continue as a reliable partner for insurers while maintaining rapid and profitable growth.”
Under Rouse’s leadership, ABRA has added more than 150 new locations in the past two years. Since 2011, the company’s system-wide revenue has increased from less than $300 million to more than $1 billion.
“With a successful strategy and accomplished executive team in place, ABRA is well-positioned for the future. The company is in a position of strength and now is the time to transition day-to-day leadership to a new Chief Executive who will lead the company into its next chapter of growth. I will remain a significant shareholder and through my Vice Chairman role I look forward to continuing to be part of ABRA’s very bright future,” Rouse said.
“During his 20 year tenure, and particularly in his 5 years as CEO, Duane not only helped aggressively grow the company through both strategic acquisitions and internal initiatives, but also built a wonderful organization and business. We are now beginning a search that will identify CEO candidates with the right experience and cultural fit for the organization. Duane will be an important voice in this process, and remain an important part of ABRA as he assumes the role of Vice Chairman,” Erik Ragatz, chairman of the board of ABRA and managing director of Hellman & Friedman, ABRA’s majority shareholder, said.