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O’Reilly Automotive, Inc. Announces Leadership Succession and Update to Target Leverage Ratio
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By APF
Advance Auto Parts today announced with their Q3 release a new strategic plan that includes a reduction in U.S. footprint:
Store operations Reduction in U.S. asset footprint - closing 523 Advance corporate stores, exiting 204 independent locations, and closing four distribution centers. Standardization of store operating model and improving labor productivity. Acceleration in pace of new store openings. Merchandising excellence Strategic sourcing to improve first costs and bring link hidden, please login to view to market faster. Assortment management to enhance availability of link hidden, please login to view. Pricing and promotions management to improve gross margin. Supply chain Consolidation of distribution centers to operate 13 large facilities by 2026. Opening of 60 market hub locations by mid-2027. Optimization of transportation routes and freight to lower costs and improve productivity.
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By Counterman
Auto-Wares announced the hiring of James Bannister as the company’s new director of training. The company said he will lead training efforts and focus on empowering employees and customers through comprehensive learning and development programs. Auto-Wares added Bannister’s role is essential in ensuring its teams across stores, warehouses, and corporate functions have the skills, knowledge, and tools needed to meet Auto-Wares’ strategic goals.
According to the company, Bannister brings over 20 years of experience in leadership and process optimization. His career spans roles in operations and training.
link hidden, please login to view added that he’s known for crafting innovative training programs that drive growth and develop teams across industries, including Fortune 500 companies. After starting his career as a technician and achieving ASE Master Certification, Bannister has also worked as a technical product specialist, shop foreman and operations manager.
link hidden, please login to view emphasized he has consistently demonstrated his ability to lead, mentor and develop impactful training programs, backed by his Automotive Technology degree from Lincoln Technical Institute. The post
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By Counterman
link hidden, please login to view announced the completion of the previously announced acquisition of AX V Nissens III APS ( link hidden, please login to view), European manufacturer and distributor of aftermarket engine cooling and air conditioning products with a growing array of vehicle control technologies. Under the terms of the agreement, SMP has acquired all the issued and outstanding shares of Nissens for approximately $390 million (€360 million), net of cash and assumed debt and subject to post-closing adjustments, from Nordic private equity firm Axcel and the Nissen family, according to a news release announcing the acquisition.
“We are very pleased to announce the closing of the Nissens acquisition. With this combination, we create an aftermarket leader in North America and Europe across our key product categories. The strength of Nissens’ leadership team and overall cultural fit will allow for immediate collaboration on opportunities for growth through cross-selling as well as bi-directional synergies with significant savings potential. We welcome Nissens and its employees to the SMP family,” said Eric Sills,
link hidden, please login to view‘ chairman and CEO. The post
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