Proven Executive with Deep Finance and Supply
Chain Expertise to Lead Finance Function
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 it has appointed Thomas (Tom) Okray as Executive Vice
President, Chief Financial Officer, effective October 31, 2016. As
part of the previously announced orderly transition, Mr. Okray will
succeed Mike Norona, who will remain with the Company in an
advisory role until the end of the year.
Mr. Okray, 53, brings more than 25 years of experience in
finance, operations and supply chain to Advance Auto Parts. Most
recently, Mr. Okray served as Vice President, Finance, Global
Customer Fulfillment at Amazon, where he was the finance lead
overseeing the optimization of key elements of Amazon’s Global
Fulfillment Network. Prior to joining Amazon, Mr. Okray spent the
majority of his career at General Motors (GM) in a variety of
finance and supply chain related roles. He was most recently
responsible for overseeing more than $120 billion in annual
expenses and $8 billion in capital expenditures as CFO, Global
Product Development, Purchasing & Supply Chain. Prior to that,
he held a variety of finance roles supporting GM’s operations,
vehicle development, supplier and partner base around the
world.
“On behalf of the entire executive team, we are delighted to
welcome Tom to the Advance team,” said Tom Greco, President and
CEO. “Tom brings deep experience in finance, with a particular
focus on leading the finance function in helping to drive efficient
supply chain operations. Importantly, Tom is very familiar with a
supply chain that must respond rapidly to online demand. This will
be increasingly critical to accelerating our growth at Advance
going forward. Tom’s strong track record as a proven and respected
leader within Fortune 100 companies like Amazon and GM, and his
passion for success, make him the ideal person to lead our finance
function.”
Mr. Greco continued, “I would like to thank Mike Norona for his
tireless efforts and strong financial leadership and contributions
during his tenure, and in particular over the last few months. We
look forward to continuing to benefit from his guidance as we
complete a smooth transition.”
Mr. Okray said, “Advance is a well-positioned industry leader
with an extraordinary opportunity to deliver improved performance.
I am truly honored and excited to join the team during this
transformative time. I look forward to working with Tom, the
management team, and the entire Advance family to help contribute
to Advance’s success.”
Thomas Okray Biography
Mr. Okray joins Advance Auto Parts from Amazon, which he joined
in 2015 as Vice President, Finance, North American Operations. In
January 2016, Mr. Okray became Vice President, Finance, Global
Customer Fulfillment where he was the finance lead responsible for
optimizing key elements of Amazon's Global Fulfillment Network,
including transportation/ supply chain, capacity and labor
planning, cost/productivity of fulfillment centers, capital,
engineering and procurement. Prior to joining Amazon in 2015, Mr.
Okray held various leadership positions at General Motors,
including roles in the United States, Germany, Italy, Poland and
Korea. In his most recent role as CFO, Global Product Development,
Purchasing & Supply Chain, he was responsible for supporting
future vehicle, engine and transmission development, global
capital, engineering expense, and purchasing operations which
included the company’s global supply chain organization. Mr. Okray
earned a bachelor’s degree in chemical engineering from Michigan
State University, and received an MBA from the University of
Chicago’s Booth School of Business. He has also participated in a
Transformational Leadership Program through Stanford University’s
Graduate School of Business.
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 July 16, 2016, Advance
operated 5,066 stores and 126 Worldpac branches and served
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.
Forward Looking Statements
Certain statements contained in this release are forward-looking
statements, as that term is used in the Private Securities
Litigation Reform Act of 1995. Forward-looking statements address
future events or developments, and typically use words such as
believe, anticipate, expect, intend, plan or forecast. These
forward looking statements include, but are not limited to,
objectives and expectations; statements regarding expected growth
and future performance of Advance Auto Parts, Inc. (AAP);
expectations regarding leadership changes and their impact on the
company’s strategies, opportunities and results; statements
regarding enhancements to shareholder value; statements regarding
strategic plans or initiatives, growth or profitability; and all
other statements that are not statements of historical facts. These
forward-looking statements are subject to significant risks,
uncertainties and assumptions, and actual future events or results
may differ materially from such forward-looking statements. Such
differences may result from, among other things, the risk that the
benefits of the General Parts International, Inc. (General Parts)
acquisition, including synergies, may not be fully realized or may
take longer to realize than expected; AAP’s ability to attract,
develop and retain executives and other employees; changes in
regulatory, social and political conditions, as well as general
economic conditions; competitive pressures; demand for AAP’s and
General Parts' products; the market for auto parts; the economy in
general; inflation; consumer debt levels; the weather; business
interruptions; information technology security; availability of
suitable real estate; dependence on foreign suppliers; and other
factors disclosed in AAP’s 10-K for the fiscal year ended January
2, 2016 and other filings made by AAP with the Securities and
Exchange Commission. Readers are cautioned not to place undue
reliance on these forward-looking statements. AAP intends these
forward-looking statements to speak only as of the time of this
communication and does not undertake to update or revise them as
more information becomes available.
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version on businesswire.com: http://www.businesswire.com/news/home/20161005005352/en/
Advance Auto PartsMedia ContactLaurie Stacy,
540-561-8452laurie.stacy@advanceautoparts.comorInvestor
ContactZaheed Mawani,
919-573-3848zaheed.mawani@advanceautoparts.com
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