24 Jul 20

CarNext CEO and CCO resign

Ewout van Jarwaarde (pictured left), CEO of LeasePlan's used-vehicle subsidiary CarNext, will resign his position 1 August, Automotive Management reports. CCO Kef van Helbergen (pictured right) will also leave the company. 

Mr Van Jarwaarde had headed the company since its foundation in 2017. Mr Van Helbergen had been employed by CarNext for only a year. The position vacated by Mr Van Jarwaarde will be taken up, for the time being, by Ignacio Barbadillo Llorens, COO at LeasePlan. 

In 2018, CarNext was valued by some at €1 billion – a major factor in the decision to go public with LeasePlan. But the IPO was cancelled at the last minute, and CarNext's supposed overvaluation was rumoured to have played a part.

In Q1 2020, CarNext's turnover increased by 33%, selling 11,400 vehicles. But the net result was a loss of €23 million, largely (but not entirely) due to an investment of €17 million.  CarNext chose not to comment on the departure of two of its top executives. 

Authored by: Frank Jacobs