CDK Global Appoints Tim Karaca as Chief Financial Officer

Software and financial services veteran succeeds Steve Lifshatz, who will support the transition through year-end

AUSTIN, Texas--(BUSINESS WIRE)--CDK, the leading automotive retail software provider, today announced the appointment of Tim Karaca as executive vice president and chief financial officer. He succeeds Steve Lifshatz, who will remain with CDK through the end of 2026 to support a seamless transition.

Karaca brings decades of experience across the software and financial services industries, spanning financial leadership, business transformation, strategic planning, capital allocation and operational execution. He previously served as CFO of SolarWinds and, before that, as group vice president of strategic finance and investor relations. Earlier in his career, he served as vice president and head of strategic finance of Mynd Management and held senior finance roles at Bridgewater Associates, Strategic Insight, AIG and Microsoft.

“Having previously worked closely with Tim in both public and private settings, I know the focus he brings to aligning financial strategy with business priorities. His combination of software industry experience and operational rigor will be valuable as we advance CDK’s transformation into its next phase of growth,” said Sudhakar Ramakrishna, president and CEO of CDK. “I thank Steve for his many contributions to CDK. Over the past several years, he has strengthened our financial systems and processes and established a balance sheet that supports our long-term strategy. I appreciate his continued commitment to CDK and to a successful transition.”

With the industry’s largest automotive-specific data set and more than 1,200 integrations, CDK is transforming its Dealership Xperience Platform from a system of record into a system of intelligence and engagement—embedding AI-powered capabilities, deeper insights and automation into the workflows dealers use every day.

“I’m excited to join CDK at a time when its technology investments are creating new opportunities to deliver greater value to customers,” said Karaca. “I look forward to partnering with the CDK team to advance our strategic priorities and strengthen relationships. I believe we have all the right ingredients to further reinforce CDK’s position and drive sustainable, long-term value for our customers.”

About CDK Global

CDK Global is a leading provider of cloud-based software to dealerships and Original Equipment Manufacturers (“OEMs”) across automotive and related industries. The Company’s cloud-based, software as a service (“SaaS”) platform enables dealerships to manage their end-to-end business operations including the acquisition, sale, financing, insuring, repair, and maintenance of vehicles. By automating and streamlining critical workflows, the integrated platform of modern solutions enables dealers to sell and service more vehicles by creating simple and convenient experiences for customers and improves their financial and operational performance.