Copart will have a new CEO at the end of next month.

The company announced Monday that chief executive Jeff Liaw is stepping down from the role on July 31 and that executive chairman Jay Adair, who was the previous CEO, will take on the position.

Liaw will support the transition as special advisor to Adair.

“Jeff has provided Copart with extraordinary leadership over the past decade — first as CFO, then president, and finally as our third-ever CEO,” Adair said in a news release. “Under his stewardship the company achieved all-time high transaction values, average selling prices, and auction liquidity.

“As a result, we are the trusted platform for insurance and commercial consignors all over the world. On behalf of everyone at Copart, I thank Jeff and wish him well.”

Liaw added, “Leading Copart has been the privilege of a professional lifetime. I’m grateful to the company for affording me the opportunity, for the customers who have entrusted us with their business, and for my teammates all over the world whose tireless efforts enable us to serve our customers and members so well. I wish Copart and Jay the very best in the next chapter ahead and look forward to contributing to the company’s future success.”