AutoCanada’s interim CEO is interim no more.

Sam Cochrane, the chief financial officer who has been serving in the top executive position since former executive chairman Paul Antony’s departure in October, has been named CEO of the Edmonton-based dealership group.

AutoCanada made the move official with an announcement Wednesday. Cochrane will continue as CFO — a role he has held since August 2024 — as the company begins its search for a replacement.

“During his tenure, Sam has demonstrated decisive leadership and a deep understanding of AutoCanada’s business,” board chairman Christopher Harris said. “Since stepping into the interim CEO role, he has brought focus, accountability and discipline to our operations.

“The board is confident he is the right leader to strengthen dealership performance, build on the strong momentum in our collision business and position the company for long-term value creation.”

In a news release, AutoCanada said Cochrane has prioritized “stabilizing the dealership business, enhancing operational discipline and conducting a thorough assessment of performance across the organization.”

As CFO, Cochrane led AutoCanada’s “transformation plan” to pull the company out of a financial crisis that came to a head in the second quarter of 2024. The plan included restructuring finances, selling off unprofitable locations and streamlining operations with a target of creating $100 million in cost savings during 2025.

During the Q3 earnings call in November, Cochrane said AutoCanada reached that target by September and raised the goal to $115 million.

The company currently operates 64 franchise dealerships and three used-car stores in eight provinces, as well as a highly profitable collision repair business that includes 33 collision centers and a calibration center.

Cochrane said he is taking the helm at “a pivotal point in the company’s transformation.”

“AutoCanada has valuable assets, strong brands and dedicated people,” he said. “Our collision business continues to perform well, offers significant growth opportunities and will be an increasingly important contributor to our results.

“At the same time, there is significant work ahead to consistently deliver the level of performance we expect from our dealership network. My focus is on returning our dealership business to its operational roots, driving clarity, accountability and a relentless emphasis on customers and execution at the store level.”

Cochrane has extensive experience with public companies, AutoCanada said, including roles as CFO of Sierra Wireless and Avigilon Corporation. His resume also includes leadership positions with Motorola Solutions, SNC-Lavalin (now AtkinsRéalis) and PricewaterhouseCoopers.

“We will be disciplined in how we allocate resources and ensure the organization is structured to best support our operators and frontline teams,” he said. “This includes simplifying how we operate and removing unnecessary complexity so our dealerships can move faster and perform better.

“Our success depends on strong relationships with our OEMs, empowered leaders, disciplined capital allocation and a culture that puts customers first while valuing simplicity, speed and results.”