A legacy of leadership

David Fraser’s four decades of stewarding the automotive industry comes to an end.

This month, Capricorn Chief Executive Officer David Fraser calls time on a 39-year career in the automotive industry. Over four decades he’s seen incredible technological change, stewarded two of the aftermarket’s biggest WA-born brands— Coventry and Capricorn – and dedicated countless hours to forging a strong future for both our industry and the cooperative movement.

In reality – like anyone whose parents run an auto business –David’s career in this industry started at a far younger age than 39 years suggests. David’s father ran a wrecker’s yard in Magill, in the eastnortheastern suburbs of Adelaide.

“I used to spend a bit of my time on weekends helping out,” David said. “He traded six days a week and I spent a fair bit of time ‘deconstructing’ cars, but I was never good at putting them back together again.”

Not being mechanically minded, David never dreamed the automotive industry was going to be his future, but when he left school and started looking for work, his father’s connections helped him land a job with a local parts retailer.

“I’d been in the business two or three years when another company bought it,” David said.

That company was Coventry – a parts retailer founded in Perth in 1929 – which by the late 1980s and through the 1990s was rapidly expanding across Australia and New Zealand.

“One of the managing directors at the time really encouraged me to go back and do some tertiary studies,” David said.

David studied for a Diploma in Sales and Marketing. He would spend almost 20 years working his way up through Coventry, eventually moving his young family to Perth in 1997 to take up a role as Group Marketing Manager of Automotive.

“I stayed for so long because I felt like I was still growing and learning and developing – I never knocked back an opportunity that came my way,” he said. “Eventually, you’ve been there for so long you’ve built a lot of relationships with industry people. I’ve always found auto people are real, genuine people. Everybody is prepared to help and support one another. I think those relationships that I formed over that time were a big part of what’s kept me glued to the industry.”

By the time he became group general manager of automotive three years later, Coventry operating revenue exceeded $320 million a year. When he left the business in 2005, Coventry revenue topped $500 million.

Before joining Capricorn in 2006, David spent almost a year as Group General Manager of Supply Direct, a wholly owned subsidiary of ASX listed Ausdrill that supplied parts, plant and equipment to mining companies in overseas markets – something he describes as a valuable experience.

Then the phone rang. It was Trent Bartlett, then Chief Executive Officer of Capricorn, offering him the role of General Manager of Automotive. David leapt at the chance.

“Coventry was a supplier to Capricorn, so, I would probably have first learned about Capricorn in the mid 1980s,” he said.

In 2006, Capricorn had about 150 employees and 9,000 Members.

“Coming in, I was really pushing for membership growth because there was a view in the business that we were probably going to cap out at around 15,000 Members,” David said. “I didn’t believe that. I thought the market was bigger. Equally, we had to put in place some frameworks and disciplines to make sure we were spending adequate time with existing Members.”

During this time, David helped usher in Capricorn Service Data, AutoBoost and Capricorn Fuel Card. Membership more than doubled to 20,000.

In 2019, David was made Group CEO, replacing Greg Wall. He brought in the skills, capabilities and technology he knew were needed to help take Capricorn to the next level.

“We optimised the use of data in the business to improve the Member and supplier experience and engagement, mitigated risks to the balance sheet, and diversified our revenue streams,” he said.

Capricorn now has over 30,000 Members who spent $3.7 billion on their Trade Accounts in the 2024 financial year (up from $2 billion in 2019).

On the side, David has quietly dedicated his free time to the development of both the automotive industry and the cooperative movement – as a Director and eventually Chair of Western Australian Motor Industry Foundation, a Director and eventually President of the Australian Automotive Aftermarket Association (AAAA), a Councillor of the Co-operatives Federation of WA, and as a driving force behind the founding and development of Australia’s Business Council for Cooperatives and Mutuals (BCCM).

BCCM is Australia’s peak body for cooperatives and mutuals. It was founded in 2011 with seed funding from Capricorn. Chief Executive Officer Melina Morrison called David, “an unwavering presence and support” for the cooperative movement.

“Having David at the board table has been very reassuring because he has kept that flame burning from the beginning, and that’s really helped the BCCM thrive,” she said. David said the fact Capricorn was a cooperative had been “critical to our success”.

“It’s the glue that holds us together,” he said. “That Capricorn continues to invest in working with other cooperatives and building out those relationships globally is to our benefit, because it means that we can continue to learn from others.”

In October, David was inducted into the BCCM Honour Roll, a virtual Hall of Fame which recognises outstanding leaders in the cooperative and mutual sector, honouring their contribution to their industry.

“Being inducted into the BCCM Honour Roll was a tremendous privilege,” David said. “Being a part of the nation’s cooperative movement, is something that has been important to me during my career, so it’s wonderful to be recognised by an organisation I respect so deeply”.

AAAA Chief Executive Officer Stuart Charity said David had been “instrumental” in some of the industry’s most important policy achievements.

“It’s not a coincidence that David was President of the AAAA when we launched the Choice of Repairer campaign,” he said. “He's one of the, if not the, most impressive people I’ve ever had the privilege of working with. His strategic knowledge of the industry is almost unparallelled. But he’s also a down-to-earth guy. He’s got time for everyone and I think he’s universally loved and admired for what he’s achieved.”

In 2022, David was inducted into the AAAA’s Hall of Fame – a moment he describes as a highlight of his career.

After so many years in leadership roles, what’s David's philosophy on leadership?

“You’ve got to be a good listener, you’ve got to make it safe for people to want to be honest with you,” he said. “Don’t be defensive; be curious. Encourage people to celebrate success. I’m a big believer in collaboration. And you need to become a good storyteller.”

“I can leave confidently knowing that the business is in a great set of hands with Brad,” David said. “He brings a wealth of experience, vision and energy to the role and, having been with Capricorn for 16 years, he has a deep understanding of the importance of Member centricity and of the culture that makes us a great business that’s rich in talent.”

For his part, Brad said David was “humble, caring and passionate about the automotive industry”.

“David has been an absolute gentleman in all scenarios, looking out for what was best for others before ever thinking of himself,” he said. “I will absolutely miss David and our daily conversations on how we can make things better for our community, but most of all he knows, just like him, that my passion for our community and our cooperative principles runs deep.”

After almost four decades, how does David reflect on a career in an industry he joined almost by accident?

“I have enjoyed it,” he said. “There’s always something different, every day. I’ve really enjoyed the opportunity to meet a lot of our Members and Preferred Suppliers over the years. Hopefully I’ve been able to listen to some of their feedback and, as a result, create a bigger and better Capricorn.”

“It’s a great business. We’re in our 50th year and my role has always been about making sure that we’re here for the next 50 years.”