Four years ago, STARCO established a new subsidiary in South Africa together with its local distributor, Mac and TireCity. The company has now decided to divest its 50 per cent shareholding and exit South Africa in order to strengthen its focus on its core business and OEM customers across Europe. STARCO’s shareholding has been transferred to a newly-established company owned by Mac and TireCity.
After 25 years at the helm of Starco, CEO and majority shareholder Peer Ejlersgaard has handed over executive responsibility for the Starco Group to Richard Todd and Karsten Petersen, and has become chairman of the board. Ejlersgaard is being joined by a new board of directors in a move that aims to further strengthen both the daily management of the company and its strategic development for the future.