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Carsales co-founder steps down

After two decades with the ASX-listed company he co-founded, Greg Roebuck is stepping down from his role as managing director and chief executive of Carsales.

Roebuck will be replaced by chief operating officer Cameron McIntyre from March 17, the company said.

Carsales board chair Jeffrey Browne said the co-founder leaves the company in a strong position, as an ASX top 100 business with a market capitalisation of $2.7 billion.

“Greg co-founded carsales in 1997 and has been responsible for its outstanding development and sustained position as number one in the Australian market for online automotive classifieds. He has put in place and inspired an immensely talented team reflecting an innovative ‘can do’ culture,” Browne said.

Roebuck said it was not an easy decision to leave the company, but he believes the time is now right for him to make a change.

“When we started the company twenty years ago, I never imagined that today we would be operating in multiple languages across nine countries and have a depth and diversity of products that make us a world class business,” Roebuck said.

Carsales has operations across the Asia Pacific region and has interests in leading online automotive classified businesses in Brazil, South Korea, Malaysia, Indonesia, Thailand and Mexico.

Roebuck will also step down from the board to give incoming CEO McIntyre a clear runway, he said.

Roebuck said he is looking forward to retirement and spending more quality time with his family and friends while indulging his passion for learning and travel.

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