Jump to content

  • Welcome to Auto Parts Forum

    Whether you are a veteran automotive parts guru or just someone looking for some quick auto parts advice, register today and start a new topic in our forum. Registration is free and you can even sign up with social network platforms such as Facebook, X, and LinkedIn. 

     

Advance Auto Parts Announces Executive Leadership Changes

Advance Auto Parts
 Share

Recommended Posts

Advance Auto Parts Contributor

Advance Auto Parts

Posted
Posted

ADVANCE AUTO PARTS ANNOUNCES EXECUTIVE LEADERSHIP CHANGES

 

Appoints Shane O’Kelly as President and Chief Executive Officer

Names Tony Iskander as Interim Chief Financial Officer

RALEIGH, N.C.--(BUSINESS WIRE)-- Advance Auto Parts, Inc. (NYSE: AAP), a leading automotive aftermarket parts provider in North America that serves both professional installer and do-it-yourself customers, today announced that its board of directors has appointed Shane O’Kelly as president and chief executive officer, effective September 11, 2023. Mr. O’Kelly will succeed Tom Greco, who has served as president and CEO since April 2016. Mr. Greco announced his planned retirement in February 2023 and will stay on as an advisor to ensure a seamless transition.

Mr. O’Kelly has also been appointed to the Advance Auto Parts board of directors, effective September 11, 2023. Gene Lee, interim executive chair of the board of directors, will continue in his interim role through the end of the year.

Mr. O’Kelly, 54, brings more than 30 years of operational, strategic development, integration and supply chain experience, including a proven track record of developing high-performing teams and cultures to drive results. Most recently, Mr. O’Kelly served as CEO of HD Supply, a wholly owned subsidiary of The Home Depot, Inc. Prior to joining Home Depot, Mr. O’Kelly was the CEO of PetroChoice, the nation's largest distributor of lubricants and lubrication solutions. Prior to that, he was CEO of AH Harris, a specialty construction supply distributor. Earlier in his career, he worked at The Home Depot and McKinsey and Company. Mr. O’Kelly served as a captain in the US Army and earned an MBA from Harvard Business School and a bachelor’s degree from The United States Military Academy at West Point.

Gene Lee, interim executive chair, said, “On behalf of the entire Advance Auto Parts board, I am delighted to welcome Shane to the Advance family. Following an extensive search over the past several months, we are confident that Shane’s robust operational background leading complex supply chain organizations makes him the ideal next leader for Advance. His proven leadership, commitment to serving customers, and strong track record of disciplined execution across multi-unit businesses will enable him to lead Advance in the next chapter and help drive long-term value for our shareholders.”

Mr. O’Kelly said, “I am honored to be joining Advance at such an important inflection point for the company. I have great respect for the talented team members at Advance and all that has been accomplished, including the team’s relentless focus on delivering for customers while navigating the challenging competitive and macroeconomic environment. As we undertake an operational and strategic review of the business, I look forward to working alongside the entire Advance team and our board of directors to drive growth, operational excellence and value for all stakeholders.”

The company also announced today that Tony Iskander has been named interim chief financial officer, effective August 18, 2023. Mr. Iskander succeeds Jeff Shepherd, who departed from Advance, effective August 18, 2023. Mr. Iskander has more than 25 years of finance and accounting experience and served as the company’s senior vice president, finance and treasurer since 2020. Prior to joining Advance in 2017, he spent more than a decade at Hillrom, where he held various finance roles of increasing responsibility. A search is being initiated, with the assistance of a leading executive search firm, to identify the company’s next chief financial officer.

Mr. Lee said, “We thank Jeff for his contributions and wish him the best in his future endeavors. Advance is fortunate to have a seasoned executive in Tony to assume the CFO role on an interim basis. I am very confident that Tony will lead the finance team through a seamless transition and work closely with Advance’s new CEO when Shane officially joins in September.”

About Advance Auto Parts

Advance Auto Parts, Inc. is a leading automotive aftermarket parts provider that serves both professional installer and do-it-yourself customers. As of July 15, 2023, Advance operated 4,790 stores and 319 Worldpac branches primarily within the United States, with additional locations in Canada, Puerto Rico and the U.S. Virgin Islands. The company also served 1,307 independently owned Carquest branded stores across these locations in addition to Mexico and various Caribbean islands. Additional information about Advance, including employment opportunities, customer services, and online shopping for parts, accessories and other offerings can be found at 

link hidden, please login to view
.

Forward-Looking Statements

Certain statements herein are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are usually identifiable by words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “forecast,” “guidance,” “intend,” “likely,” “may,” “plan,” “position,” “possible,” “potential,” “probable,” “project,” “should,” “strategy,” “will,” or similar language. All statements other than statements of historical fact are forward-looking statements, including, but not limited to, statements about our leadership transition, strategic initiatives, operational plans and objectives, our planned strategic and operational review and expectations for economic conditions, future business results and future financial performance, as well as statements regarding underlying assumptions related thereto. Forward-looking statements reflect our views based on historical results, current information and assumptions related to future developments. Except as may be required by law, we undertake no obligation to update any forward-looking statements made herein. Forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those projected or implied by the forward-looking statements. They include, among others, factors related to the company’s leadership transition, the timing and implementation of strategic initiatives, our ability to hire, train and retain qualified employees, deterioration of general macroeconomic conditions, the highly competitive nature of our industry, demand for our products and services, complexities in our inventory and supply chain and challenges with transforming and growing our business. Please refer to “

link hidden, please login to view
” of our most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”), as updated by our subsequent filings with the SEC, for a description of these and other risks and uncertainties that could cause actual results to differ materially from those projected or implied by the forward-looking statements.

CT?id=bwnews&sty=20230822500765r1&sid=ac

link hidden, please login to view
: 
link hidden, please login to view

Investor Relations Contact:
Elisabeth Eisleben
T: (919) 227-5466
E: [email protected]

Media Contact:
Darryl Carr
T: (984) 389-7207
E: [email protected]

Source: Advance Auto Parts, Inc.

link hidden, please login to view

  • Like 1

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
 Share
Go to topic listing

  • Similar Topics

    • Counterman
      DMA Names Fred Snow President and COO, Expanding Leadership Role  
      By Counterman
      John Treece, chairman and CEO of
      link hidden, please login to view, announced the promotion of Fred Snow to president and chief operating officer in the letter below: “As DMA strives to continue to grow and deliver excellence to our customers, building a strong and sustainable senior leadership team is imperative to our organization’s success. Today, I am pleased to announce Fred Snow will be assuming the title of President, along with his current role as Chief Operating Officer.
      Fred brought with him to
      link hidden, please login to view a very strong Automotive Aftermarket background and work experience in managing and running an organization similar to DMA. In his two years with our organization, Fred has comfortably assimilated into the DMA culture and exhibited thoughtful decision-making and leadership, while directly managing many of our key projects. He is now intimately knowledgeable about the workings of DMA, as he has been involved in most aspects of the business, extending beyond his direct responsibilities. I fully trust Fred’s ability to assess our business situations and make timely and deliberate decisions. He and I are fully aligned in the direction we steer the company and the effort it will take to achieve success. We both share a passion for serving the customer with a sense of urgency as our #1 priority. Fred’s areas of direct responsibility will remain the same as today: Supply Chain, Operations, Customer Service, Facility Management, and he will be assuming Product Management, and Engineering & Quality Management. This change of title acknowledges that Fred is assisting me in the overall day-to-day running of the company. It also represents that Fred is now my official backup for directing the company and making any required decisions in my absence. Fred also has full authority to sign on behalf of the company. 
      My role and responsibilities remain the same as CEO and Chairman of the Board. With the launching of our new joint venture factory SDI in Thailand and other corporate travel obligations, it was clear that the time had come when DMA needed someone officially in charge when I am unavailable. This evolutionary organizational step assures the stability and consistency that positions DMA to continue to be a fast-acting and customer-responsive company with clear lines of leadership and communication for our employees. 
      I am confident that this change is another positive milestone in the development of DMA. Please join me in congratulating Fred on this well-deserved appointment.”  
      The post
      link hidden, please login to view appeared first on link hidden, please login to view.
      link hidden, please login to view
    • Counterman
      Fisher Auto Parts Acquires P&A Auto Parts
      By Counterman
      Fisher Auto Parts has acquired New Jersey-based P&A Auto Parts and its eight locations. Geoffrey Shifflett, area vice president of Fisher Auto Parts, made the announcement. Headquartered in Saddle Brook, New Jersey, P&A Auto Parts has served the northeastern New Jersey market since 1982.
      According to a news release announcing the acquisition, key employees Joe Cupoli and Bill Freedman purchased the company in 2003. Both will stay on to run the business following the acquisition, while Freedman will serve as regional manager.
      “As a privately held business that is well established in its community, P&A Auto Parts is an excellent addition to the
      link hidden, please login to view footprint,” said Shifflett. “We are very pleased that Joe and Bill will stay on to run the business and help us grow market share in this region. We look forward to working with them and the entire P&A Auto Parts team to provide our valued customers with name brand quality parts and exceptional service.” 
      link hidden, please login to viewsaid that P&A Auto Parts focuses on the professional commercial market, while maintaining a steady retail and do-it-yourself customer base.
      The post
      link hidden, please login to view appeared first on link hidden, please login to view.
      link hidden, please login to view
    • Counterman
      Advance Appoints Shweta Bhatia as Chief Technology Officer
      By Counterman
      Advance Auto Parts, Inc. announced it has appointed Shweta Bhatia as executive vice president and chief technology officer, effective immediately. According to the company, Bhatia brings more than 20 years of retail, technology and operational experience to
      link hidden, please login to view. Most recently, she served as senior vice president of technology at Dollar General, where she led a multi-year, end-to-end technology transformation and modernization to enhance the company’s operational efficiency. “Shweta’s history of successfully executing transformational programs that focus on speed, efficiency and providing quality solutions to customers will greatly contribute to the execution of our three-year financial plan,” said Shane O’Kelly, president and chief executive officer. “We welcome Shweta to our leadership team that is passionate about carrying out our decisive actions which will set up Advance for future growth and value creation.”
      Bhatia also served as vice president of technology at both Walmart International, where she led the company’s core retail technology portfolio, and Kohl’s Corporation, where she managed the strategy and implementation of solutions across multiple channels.
      link hidden, please login to view said her passion for modern technology transformation began as an entrepreneur, creating the tech startup, Wisdom Info Tech, an award-winning technology firm. Bhatia received her MBA from Amity Business School and a bachelor’s degree at IT College, both located in India.
      Sri Donthi, Advance’s current chief technology officer, will remain with the company for a period to assist in the transition. The company said it is grateful to Sri for his leadership and contributions over the last several years and wishes him well as he moves on to a new opportunity.
      The post
      link hidden, please login to view appeared first on link hidden, please login to view.
      link hidden, please login to view
    • Advance Auto Parts
      Advance Auto Parts Appoints Shweta Bhatia as Chief Technology Officer
      By Advance Auto Parts
      RALEIGH, N.C.--(BUSINESS WIRE)-- Advance Auto Parts, Inc. (NYSE: AAP), a leading automotive aftermarket parts provider in North America that serves both professional installers and do-it-yourself customers, today announced that it has appointed Shweta Bhatia as executive vice president and chief technology officer, effective immediately.
      “Shweta’s history of successfully executing transformational programs that focus on speed, efficiency, and providing quality solutions to customers will greatly contribute to the execution of our three-year financial plan,” Shane O’Kelly, president and chief executive officer. “We welcome Shweta to our leadership team that is passionate about carrying out our decisive actions which will set up Advance for future growth and value creation.”
      Ms. Bhatia brings more than 20 years of retail, technology, and operational experience to Advance. Most recently, Ms. Bhatia served as senior vice president of technology at Dollar General where she led a multi-year, end-to-end technology transformation and modernization to enhance the company’s operational efficiency. Ms. Bhatia also served as the vice president of technology at both Walmart International, where she led the company’s core retail technology portfolio, and Kohl’s Corporation, where she managed the strategy and implementation of solutions across multiple channels. Her passion for modern technology transformation began as an entrepreneur, creating the tech startup, Wisdom Info Tech, an award-winning technology firm.
      Ms. Bhatia received her MBA at the Amity Business School and a bachelor's degree at IT College, both located in India.

      link hidden, please login to view
    • Counterman
      NexaMotion Group Announces C&M Auto Parts Expansion in Chicago
      By Counterman
      NexaMotion Group (NMG) announced the opening of a new C&M Auto Parts location in the Chicago area. The new store, located at 780 W Belden Avenue, Unit G, in Addison, Illinois, offers customers a full line of general repair and transmission parts. NMG said the new location combines the trusted quality of C&M and Transtar products with unmatched customer support, delivering a comprehensive resource that empowers repair shops to serve the local market.
      “This is just the start for NMG in 2025,” said Neil Sethi, CEO of
      link hidden, please login to view. “Customers can expect to see additional new locations throughout the year, as well as expanded product lines and additional partnerships to serve them better. We’re continuing with our strategic vision to grow our markets and deliver unmatched value to our customers. The new location gives us a great opportunity to serve our customers in a key market.”  C&M Auto Parts provides a complete range of automotive aftermarket parts, expertly catering to the diverse needs of repair shops in the local market. In collaboration with its affiliate
      link hidden, please login to viewCompany, Transtar Aftermarket Solutions, this facility offers customers a customized product selection that simplifies complex vehicle repairs to keep the world moving, the company said.
      The post
      link hidden, please login to view appeared first on link hidden, please login to view.
      link hidden, please login to view

×
×
  • Create New...