David Fraser, Chief Executive Officer of Capricorn Group, will retire in December 2024 after five years in the role and 18 years with the company. Brad Gannon, current Chief Executive Officer of Automotive, will assume Fraser’s position early next year.
“It’s been a privilege to lead Capricorn for the last five years, and I am very proud of what I’ve achieved and the positive impact we’ve been able to have for members’ businesses,” said Fraser.
Mark Cooper, Chair of the Capricorn Society Board, paid tribute to Fraser’s contribution to the organisation and industry.
“David has done a truly wonderful job of leading Capricorn over the last five years. We have seen substantial growth in this time and improved member returns.”
“This year, Capricorn will celebrate our 50th anniversary and David has set the organisation up for a successful next 50,” said Cooper.
“While there is never a perfect time to retire, I felt now is the right time for both Capricorn and for me,” said Fraser. “I have full faith that Brad will continue to grow the business to support the wonderful Capricorn community.”
Gannon will take over as Group Chief Executive Officer from January 2025.
“I am absolutely thrilled that the board have asked me to take on the role of Group CEO following David’s retirement. It is a great honour and a privilege. I look forward to continuing to deliver an amazing experience for our Capricorn community,” said Gannon.
Fraser has more than 38 years of experience in the automotive industry and held senior sales, marketing and general management roles over the past two decades. Prior to his appointment as Capricorn’s Group CEO in 2019, he was CEO of Capricorn’s Automotive division.
Capricorn said Fraser is now looking to develop his “board career”. He currently sits on the boards of the Business Council of Cooperatives and Mutuals, Western Australian Motor Industry Foundation, and Tyre Stewardship Australia.