Solera Holdings Founder Tony Aquila Out as Private Equity Owner Names New CEO

Tony Aquila, founder and CEO of Westlake-based Solera Holdings Inc., is being replaced by the company's private equity owner.Solera announced Wednesday that Jeffrey Tarr is joining the company as CEO. Aquila founded the firm that creates software for the automotive and insurance industries in 2005 in his garage and sold it to Austin-based Vista Equity Partners in 2015 for $6.5 billion.Aquila's imminent departure was first reported May 13 by Autohaus, a German trade publication for the automotive services industry. The report said it was "unclear whether this is an agreed exit" as part of Vista's takeover.So far this year through April, 513 CEOs have left their roles -- a 14% increase over the same period last year, according to data compiled by Challenger, Gray & Christmas.  Continue reading...