Solera Holdings founder and former chairman and CEO Tony Aquila announced his retirement from Solera Holdings.

Aquila said he is proud that he is leaving Solera Holdings as the global leader in risk and asset management data and software and as the preeminent service solutions (SaaS) for the automotive and insurance industries. He also expressed his full support for new CEO Jeff Tarr to succeed him.

During Aquila’s tenure, Solera grew into a global giant, employing more than 7,000 employees in 93 countries.

Today, Solera’s offerings bring together insurers, OEMs, dealers and participants throughout the supply chain, creating a digital marketplace that empowers the customer to manage the entire life of their vehicle in a single platform, according to the company.

“It is always a hard decision to leave such a special place as Solera, but I am ready for my next chapter professionally,” said Aquila. “I will be forever proud of what we accomplished at Solera. I wish new CEO and Board Director Jeff Tarr – and the amazing Solera team – well as they embark on a very bright future.”