ASX:BAPRetail Distributors
Can Bapcor’s (ASX:BAP) New CEO and Relaxed Leverage Covenants Reframe Its Turnaround Risks?
Bapcor recently announced that outgoing CEO Angus McKay will be replaced by automotive aftermarket veteran Chris Wilesmith as CEO and Managing Director from 14 January 2026, alongside an updated FY26 earnings outlook that includes an expected Statutory NPAT loss of A$5 million–A$8 million in 1H26 and A$31 million–A$36 million for the full year.
At the same time, Bapcor secured temporary lender approval to lift its net leverage covenant to 3.5 times adjusted EBITDA, giving the new leadership...