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By Counterman
Paul Donahue (at left) will transition from chairman and CEO to executive chairman. William Stengel, II, currently president and COO, will succeed Donahue as president and CEO of GPC and will serve as a member of the board of directors.
Genuine Parts Company announced that Paul D. Donahue will transition from chairman and CEO to executive chairman, effective June 3, 2024. At that time, William P. Stengel, II, currently president and COO, will succeed Donahue as president and CEO of GPC and will serve as a member of the board of directors.
“The board is confident that Will is the right person to lead GPC into the future and that the company is positioned to continue delivering value to our customers and shareholders,” said John D. Johns, lead independent director of GPC’s board of directors. “During his tenure at GPC, he’s worked closely with Paul to shape the company’s strategic priorities and with the global leadership teams to evolve the business and deliver outstanding performance.”
Stengel joined the company in 2019 as executive vice president and chief transformation officer with nearly two decades of leadership and professional experience. In 2021, he was promoted to serve as only the eighth president in the company’s history. His role expanded to president and chief operating officer in 2023. Prior to joining GPC, he served in various executive leadership roles at HD Supply, including as president and CEO of HD Supply Facilities Maintenance, as well as at The Home Depot and in various investment banking roles.
“I am humbled and honored for the opportunity to lead Genuine Parts Company and especially grateful for my GPC teammates and the support of Paul and the board of directors,” said Stengel. “We will continue to build on the strong foundation laid over many years as we work to deliver solutions for our customers, invest in talent and capabilities and create value for our shareholders.”
“On behalf of the board of directors, I want to extend our heartfelt appreciation to Paul for his remarkable leadership spanning over two decades, culminating as chairman and CEO,” said Johns. “Under his leadership, the company simplified its business mix, expanded its global footprint and delivered significant shareholder value. Paul’s positive impact on GPC has been remarkable, and we look forward to his continued guidance as he transitions to his new role as executive chairman.”
“I am incredibly proud of all we have accomplished as One GPC team, and equally grateful for the 20+ years I have been privileged to work for this amazing company. As I transition from the CEO role, I am pleased to welcome Will as only the sixth CEO in our company’s 96-year history,” said Donahue. “I have every confidence in Will, our global leadership teams and our board of directors to deliver on our vision to be the leading global automotive and industrial parts distributor and solutions provider.”
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By NAPA
ATLANTA, April 29, 2024 /
link hidden, please login to view/ -- Genuine Parts Company (NYSE: GPC), a leading global distributor of automotive and industrial replacement parts, announced today that Paul D. Donahue will transition from chairman and CEO to executive chairman, effective June 3, 2024. At that time, William P. Stengel, II, currently president and COO, will succeed Mr. Donahue as president and CEO of GPC and will serve as a member of the board of directors. "The board is confident that Will is the right person to lead GPC into the future and that the company is positioned to continue delivering value to our customers and shareholders," said John D. Johns, lead independent director of GPC's board of directors. "During his tenure at GPC, he's worked closely with Paul to shape the company's strategic priorities and with the global leadership teams to evolve the business and deliver outstanding performance."
Mr. Stengel joined the company in 2019 as executive vice president and chief transformation officer with nearly two decades of significant leadership and professional experience. In 2021, he was promoted to serve as only the eighth president in the company's history. His role expanded to president and chief operating officer in 2023. Prior to joining GPC, he served in various executive leadership roles at HD Supply, including as president and CEO of HD Supply Facilities Maintenance, as well as at The Home Depot and in various investment banking roles.
"I am humbled and honored for the opportunity to lead Genuine Parts Company and especially grateful for my GPC teammates and the support of Paul and the board of directors," said Mr. Stengel. "We will continue to build on the strong foundation laid over many years as we work to deliver solutions for our customers, invest in talent and capabilities and create value for our shareholders."
"On behalf of the board of directors, I want to extend our heartfelt appreciation to Paul for his remarkable leadership spanning over two decades, culminating as chairman and CEO," said Mr. Johns. "Under his leadership, the company simplified its business mix, expanded its global footprint and delivered significant shareholder value. Paul's positive impact on GPC has been remarkable, and we look forward to his continued guidance as he transitions to his new role as executive chairman."
"I am incredibly proud of all we have accomplished as One GPC team, and equally grateful for the 20+ years I have been privileged to work for this amazing company. As I transition from the CEO role, I am pleased to welcome Will as only the sixth CEO in our company's 96-year history," said Mr. Donahue. "I have every confidence in Will, our global leadership teams and our board of directors to deliver on our vision to be the leading global automotive and industrial parts distributor and solutions provider."
About Genuine Parts Company
Established in 1928, Genuine Parts Company is a leading global service organization specializing in the distribution of automotive and industrial replacement parts. Our Automotive Parts Group operates across the U.S., Canada, Mexico, Australasia, France, the U.K., Ireland, Germany, Poland, the Netherlands, Belgium, Spain and Portugal, while our Industrial Parts Group serves customers in the U.S., Canada, Mexico and Australasia. We keep the world moving with a vast network of over 10,700 locations spanning 17 countries supported by more than 60,000 teammates. Learn more at
link hidden, please login to view. SOURCE Genuine Parts Company
For further information: Investor Contact, Timothy Walsh, (678) 934-5349, Senior Director, Investor Relations; Media Contact, Heather Ross, (678) 934-5220, Vice President, Strategic Communications
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By Counterman
Engine oil has become an integral part of automakers’ fuel-economy and emissions strategy, with each company specifying its own unique blend of base stocks and additives to achieve specific goals. The result has been a surge in specialized lubricants, and no small amount of confusion over the “correct” recommendations for each application.
While there are multiple oil specifications (even within a single manufacturer) to sift through, these criteria often relate to the varying levels of sulfated ash, phosphorous and sulfur (SAPS) found in these additive packages. As far back as the 1990s, oil manufacturers began to reduce the amount of phosphorous (and zinc) in their additive packages, as these anti-wear and anti-oxidant elements had a nasty side effect: catalytic-converter failures.
Bonding with platinum found in the catalyst bed, zinc and phosphorous reduce the efficiency of the catalyst, increasing emissions to unacceptable levels. The new oil formulas were great for contemporary vehicles, but classic and other pre-converter vehicles were prone to increased wear. ZDDP (zinc dialkyl dithiophosphate) additives restore these lost elements, but only should be used in applications without catalytic converters.
Sulfur became a key talking point in the early 2000s, as diesel fuels began to transition to “ultra-low-sulfur diesel” (ULSD) formulas to meet increasingly strict EPA guidelines. Sulfur reduction allows for the use of emissions-aftertreatment devices such as particulate filters and catalysts common in modern diesels. Sulfur, as part of the SAPS content in engine oils, has the same negative effect on pollution-control devices, contaminating catalysts and increasing buildup of particulate materials.
SAPS levels vary among these engine-oil specifications, and are selected based on engine design, the emissions equipment used and even manufacturer-specified oil-change intervals. European specs often are the most visible, with Mercedes, Volkswagen-Audi and BMW groups each specifying multiple standards across their lineups. Specifications for naturally aspirated or turbocharged gasoline engines may differ from those for diesels with and without aftertreatment devices. Higher-SAPS engine oils are generally suitable for older or higher-mileage applications, and for those with extended oil-change intervals – but not for those with particulate filters.
“European Formula” engine oils often contain mid-to-high levels of SAPS, due to the extended oil-change intervals, from 10,000 to 15,000 miles for some manufacturers. The European market has a significant number of light-vehicle diesel engines, especially when compared to the U.S. market. Emissions standards in the European Union are stricter than ours, so many of the pollution-control systems now in use stateside are already familiar to European engineers.
Lower-SAPS oils (by definition) will contain less ash, phosphorous and sulfur, reducing the amount of particulate matter that eventually can collect downstream or be released into the atmosphere via the exhaust. For vehicles that employ a particulate filter in their exhaust system, this means less buildup of ash-based residue, extending the service life of the filter, and reducing the frequency of regeneration events.
Here in the U.S., diesels are most prevalent in light trucks and SUVs. DPF-regeneration events fall into two categories: passive and active. Passive regeneration happens on its own, usually at highway speeds and under load, while active regeneration requires the PCM to alter its fuel or timing strategy to increase exhaust-gas temperature to a level high enough to “burn” particulates from the DPF.
Lower-SAPS engine-oil formulations are better-suited to these diesels (as well as gasoline vehicles with three-way catalytic converters) because there’s less residue to potentially contaminate aftertreatment devices, and they also can provide modern engines with longer service life. The unfortunate trade-off for most of these formulations is oil life, so some manufacturers choose to specify mid-level SAPS content in some applications.
European oil standards are set by the European Automobile Manufacturers’ Association (known as “ACEA,” an acronym based on the French translation). Like the API standards, ACEA standards categorize engine oils for gas and diesel usage, but also consider further parameters for emissions and fuel economy. Along with the API designation and the manufacturer’s specifications, you’re likely to see the ACEA A/B (gas/diesel) or C (three-way catalyst or aftertreatment diesel) classification on these Euro-specific oils.
When specifying or recommending engine oils for ANY vehicle, the owner’s manual is the primary source of reference. It not only contains the factory-authorized fill information, but often gives alternate information useful to making an informed substitution when necessary. If your e-catalog suite includes lubricant reference information, these specs also can be easily consulted and compared to the labels of your oil inventories. If your required manufacturer’s standard isn’t printed plainly on the oil container, most oil vendors’ websites now feature compatibility and selection widgets.
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By AutoZone
MEMPHIS, Tenn. , Jan. 02, 2024 (GLOBE NEWSWIRE) -- AutoZone, Inc. (NYSE: AZO) completed its Leadership Transition Plan announced on June 26, 2023 . Today, Phil Daniele , a 30-year AutoZoner, who most recently served as Chief Executive Officer-Elect, became President and Chief Executive Officer
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By AutoZone
William C. Rhodes, III, to Transition from Chairman, President and Chief Executive Officer to Executive Chairman Effective January 2024; Philip B. Daniele, III, Executive Vice President of Merchandising, Marketing and Supply Chain is additionally named Chief Executive Officer - Elect MEMPHIS, Tenn., June 26, 2023 (GLOBE NEWSWIRE) -- AutoZone (NYSE: AZO) today announced Bill Rhodes’ decision to relinquish his positions as President and Chief Executive Officer (CEO) effective January 2024. He will become Executive Chairman of the Board. Philip B. Daniele, III, age 54, a 29-year AutoZoner and currently Executive Vice President Merchandising, Marketing and Supply Chain, has been selected to succeed Rhodes as CEO in January 2024 and he will also become a member of the Board of Directors.
“On behalf of the Board of Directors, I want to thank Bill for his outstanding leadership during his more than 18 years as our CEO and we are excited and grateful that he will remain actively involved as Executive Chairman and an Officer of the Company. Bill, the Executive Committee, and CEO Team have led the Company through unprecedented growth while continuing to nurture and evolve AutoZone’s unique and powerful culture. AutoZone is eternally grateful for his many contributions during his almost 30 years of service,” said Earl G. Graves, Jr., Lead Director. “We knew this day was coming and have been working a very disciplined succession planning process for many years. Today we are prepared to announce that the Board of Directors has selected Phil Daniele to be our next CEO. Phil shares Bill’s passion for the business and most importantly, for our AutoZoners. He will continue AutoZone’s long-standing disciplined approach and will focus first, like we always have, on our customers. Phil will leverage his deep industry knowledge as a nearly 40-year veteran of this industry. During his AutoZone tenure, Phil has worked in many parts of the organization, including virtually all leadership roles in Store Operations, he has spent many years on our Merchandising team, led Commercial, has been very involved in Information Technology and has now overseen our Supply Chain and Marketing teams for the last two years. Over the last decade, Phil has been intimately involved in many of our most important strategic initiatives. We look forward to working with Phil as he leads the Company into our next chapter of success.”
Rhodes has been President, CEO and on the Board of Directors since March of 2005. In June 2007, he was named Chairman of the Board. During his tenure, as President and CEO, the company has roughly doubled the number of stores; grown the number of AutoZoners to approximately 115,000; increased revenues by more than 3 times, this year surpassing $17 billion; and grown the stock price by more than 25 times. Rhodes has also served on numerous industry and community boards.
“Being an AutoZoner and having the opportunity to help lead this amazing team has been one of the greatest honors of my life. I’m incredibly excited that the Board has elected Phil as CEO-Elect. Phil and I have worked together very closely for over 25 years,” said Rhodes. “Phil knows this company as well as anybody and has a passion for this business that is arguably un-paralleled. More importantly, Phil understands AutoZone’s success has been driven by a deep, passionate set of leaders who support great AutoZoners across the globe. He embodies what our Founder, J.R. Hyde, III’s father taught us when he said, “No individual builds a business…an individual builds the organization, and the organization builds the business.”
“I am humbled to lead this organization that has meant so much to me,” said Daniele. “I am in awe every day by the commitment of our AutoZoners to provide exceptional service to our customers. As CEO, it will be an honor for me to work alongside the Board, leadership team and AutoZoners everywhere to build upon our long history of successes. On behalf of all AutoZoners, I thank Bill for his invaluable contributions to AutoZone and our industry. I’m excited he will continue to be an integral part of our team and I can leverage our long-standing relationship, his experiences, counsel and our friendship. I know we both share that AutoZone’s best days are ahead of us!”
About AutoZone (NYSE:AZO)
As of May 6, 2023, the Company had 6,248 stores in the U.S., 713 stores in Mexico and 83 stores in Brazil for a total store count of 7,044. AutoZone is the leading retailer and a leading distributor of automotive replacement parts and accessories in the United States. Each AutoZone store carries an extensive product line for cars, sport utility vehicles, vans and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories, and non-automotive products. Many stores also have a Commercial sales program that provides commercial credit and prompt delivery of parts and other products to local, regional and national repair garages, dealers, service stations, and public sector accounts. AutoZone also sells the ALLDATA brand diagnostic and repair software through
link hidden, please login to view. Additionally, AutoZone sells automotive hard parts, maintenance items, accessories, and non-automotive products through link hidden, please login to view and our commercial customers can make purchases through link hidden, please login to view. AutoZone does not derive revenue from automotive repair or installation.
Contact Information:
Financial: Brian Campbell at (901) 495-7005, link hidden, please login to view
Media: David McKinney at (901) 495-7951, link hidden, please login to view
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