ROANOKE (WSLS 10)– Advance Auto Parts, Inc announced Friday George Sherman, who currently serves as the Company's President, will step down from his current role on August 13, and remain with the Company to assist with an orderly transition through the end of the year. Mr. Sherman's leadership team will now report to Chief Executive Officer Tom Greco.
This comes after Advance Auto Parts announced in April that Greco would be its CEO and a director, effective April 11, 2016. Greco joined the company following a 30-year career at PepsiCo, Inc.
Advance Auto news release:
Advance Auto Parts, Inc. (NYSE: AAP), a leading automotive aftermarket parts provider in North America, serving both professional installer and do-it-yourself customers, today announced that George Sherman, who currently serves as the Company's President, will step down from his current role on August 13, and remain with the Company to assist with an orderly transition through the end of the year. Mr. Sherman's leadership team will now report to Chief Executive Officer Tom Greco.
Mr. Sherman, who joined Advance in April 2013, has served as President throughout his tenure. In addition, Mr. Sherman served as Interim Chief Executive Officer from January to April 2016.
"I want to thank George for his contributions to Advance and his willingness to assist with a smooth transition," said Mr. Greco. "George has played a vital leadership role in the integration of the Advance and Carquest teams, and has helped to create a more field and customer focused company by empowering our stores and field leaders to better serve customers. We wish him the best in his future endeavors."
About Tom Greco:
Tom Greco, 57, joined Advance Auto Parts following a successful 30-year career at PepsiCo, Inc. Most recently, he served as CEO of Frito-Lay North America, where he was responsible for PepsiCo's $14.8 billion snack and convenient foods business in the U.S. and Canada. During his tenure, he led PepsiCo's most profitable operating segment in consistently driving sales and improved operating profits. He brings deep experience in leading a sales-driven organization with over 55,000 employees as well as significant expertise in managing a complex operational infrastructure, transforming the supply chain, and retooling go-to-market systems to better meet the needs of both large and smaller customers.
About Advance Auto Parts:
Advance Auto Parts, Inc., a leading automotive aftermarket parts provider in North America, serves both professional installer and do-it-yourself customers. As of April 23, 2016, Advance operated 5,086 stores and 125 WORLDPAC branches and serves approximately 1,300 independently owned Carquest branded stores in the United States, Puerto Rico, the U.S. Virgin Islands and Canada. Advance employs approximately 74,000 Team Members. Additional information about the Company, employment opportunities, customer services, and on-line shopping for parts, accessories and other offerings can be found on the Company's website at www.AdvanceAutoParts.com.
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