Why CarParts.com Shares Are Trading Lower After Hours

CarParts.com Inc PRTS shares are trading significantly lower in Tuesday's after-hours session following a leadership transition. 

The company announced that Lev Peker will step down as CEO, effective April 15. Peker has left CarParts in order to take the helm at CarLotz.

Related Link: Why CarLotz Shares Are Falling After Hours

David Meniane will transition to CEO and Ryan Lockwood will become CFO of CarParts.

"I am proud to be assuming the role of CEO at this exciting time and, with Ryan and the team at CarParts.com, will remain focused on business execution, serving our customers and taking CarParts.com to the next level," said Meniane.

PRTS 52-Week Range: $6.60-$20.74

CarParts shares are down 15.6% at $6.02 in after hours trading. 

Photo: Tama66 from Pixabay.