Advance Auto Parts Names Jeffrey Shepherd Chief Accounting Officer
March 01 2017 - 6:45AM
Business Wire
Proven Executive with Extensive Finance and
Auto Industry Expertise to Lead Accounting Function
Advance Auto Parts, Inc. (NYSE: AAP), a leading automotive
aftermarket parts provider that serves both professional installer
and do-it-yourself customers, announced that Jeffrey (Jeff)
Shepherd has been appointed Senior Vice President, Corporate
Controller and Chief Accounting Officer, effective today, March 1,
2017.
Mr. Shepherd, 44, brings more than 23 years of experience in
accounting and finance to Advance Auto Parts. Mr. Shepherd joins
Advance from General Motors (GM), where he served as Controller for
General Motors Europe since 2015. Prior to that role, he served as
Director – Consolidation and SEC Reporting, and Director – Analysis
and Reporting with GM. Before joining GM, Mr. Shepherd served in a
variety of leadership roles with Ernst & Young.
“I am excited to have Jeff join Advance. His extensive
accounting experience and financial acumen, particularly within the
automotive industry, will be valuable assets to the Company as we
move forward with executing our strategic business plan,” said Tom
Okray, Chief Financial Officer.
Mr. Shepherd said, "I look forward to joining the Advance team
and contributing to the Company's strategic objectives. I am
excited to be part of a great team of finance professionals and to
lead the accounting function as we execute a well-defined
roadmap."
Jeff Shepherd Biography
Mr. Shepherd joins Advance Auto Parts from General Motors, which
he joined in 2010 as Director, Analysis and Reporting. In June
2013, Mr. Shepherd became Director, Consolidation and SEC
Reporting, where he implemented process improvement measures to
reduce time to close and report results internally and externally.
In July 2015, he became Controller – General Motors Europe, where
he led a team of over 100 professionals and improved the structure
of the regional Controllership function, improving processes and
responsibility over the accounting, reporting and controls
functions. Prior to joining General Motors in 2010, Mr. Shepherd
held various leadership positions at Ernst & Young, including
Advisory Services Partner and Assurance and Advisory Services
Senior Manager in San Francisco, Zurich, Switzerland, and Detroit.
Mr. Shepherd earned a bachelor’s degree in business administration
with accounting emphasis from Central Michigan University.
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 December 31, 2016, Advance
operated 5,062 stores and 127 WORLDPAC branches and employed 74,000
Team Members in the United States, Canada, Puerto Rico and the U.S.
Virgin Islands. The company also serves approximately 1,250
independently owned Carquest branded stores across these locations
in addition to Mexico and the Bahamas, Turks and Caicos, British
Virgin Islands and Pacific Islands. 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, forecast, outlook or
estimate. These forward looking statements include, but are not
limited to, key assumptions for 2017 financial performance
including adjusted operating income; statements regarding expected
growth and future performance of Advance Auto Parts, Inc. (AAP),
including store growth, capital expenditures, comparable store
sales, gross profit rate, SG&A, adjusted operating income, free
cash flow, income tax rate, General Parts integration costs and
adjusted operating income rate targets; 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, AAP’s ability to implement its
business and growth strategy; 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 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 December 31, 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/20170301005464/en/
Advance Auto Parts, Inc.Media ContactLaurie Stacy,
540-561-1206laurie.stacy@advanceautoparts.comorInvestor
ContactZaheed Mawani,
919-573-3848zaheed.mawani@advanceautoparts.com
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