Cliff Banks - The Banks Report

Former Intel CEO Assumes Top Spot at CDK Global

November 7, 2018 — CDK Global announced this morning it has named Brian Kraznich as president and chief executive officer, replacing Brian MacDonald.

Kraznich, 58, spent 36 years at Intel, including serving as its CEO from May 2013 to June 2018. He also was named to CDK’s board of directors. Kraznich generally received high marks for his effective leadership at Intel diversifying Intel’s business beyond its leadership in chip technology into becoming one of the world’s leading drone producers.

There were hiccups, though, including the discovery of security vulnerabilities in its chip technology and an affair, which led to Kraznich’s stepping down in June.

Nevertheless, Kraznich is a big play for CDK. The move is a clear sign that CDK’s restructuring is, for the most part, complete. And now the board wants to focus on growth and positioning CDK as the industry moves into a new era of mobility. And Kraznich has the experience and background to take CDK where it needs to go.

“In evaluating the future of CDK, the Board and Brian MacDonald concluded that this is the right time to bring in a proven technology CEO to drive top-line growth and help CDK take full advantage of its many opportunities,” said Leslie Brun, chairman, Board, CDK Global. “We are thrilled to welcome Brian Kraznich to CDK. With 36 years of experience at Intel, Krzanich combines an exceptional track record of creating shareholder value with exactly the right combination of technology and strategic leadership experience to enable CDK to deliver on its enormous promise. The Board has full confidence that he has the talent and expertise necessary to lead CDK as it pursues a growth strategy.”

Click here to view the announcement. 

MacDonald did the job he was hired to do — and that was to oversee a successful financial restructuring of CDK over the last three years. He will assist with the transition and will participate in the earnings call this morning at 8:30 ET.

CDK announced first quarter fiscal year earnings today with year-over-year revenues being flat.

Click here to view the earnings release.

 

 

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