Jeffrey W. Shepherd Appointed Chief Financial
Officer
Reuben E. Slone to Lead Supply Chain and
Procurement
Nigel Travis Joins Board of Directors
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 the appointments of Jeffrey W. Shepherd to Executive Vice
President, Chief Financial Officer (CFO) and Reuben E. Slone to
Executive Vice President, Supply Chain. Additionally, Nigel Travis,
Executive Chairman of Dunkin Brands, was appointed to the Board of
Directors.
Since April, Shepherd served as Advance’s interim CFO in
addition to his responsibilities as Controller and Chief Accounting
Officer. He joined Advance during the first quarter of 2017 from
General Motors where he served most recently as Controller for
General Motors Europe. Prior to that role, Shepherd served in
various accounting and finance leadership roles at General Motors.
A certified public accountant, Shepherd also worked at Ernst &
Young for more than 15 years and was a partner with the firm.
Shepherd’s CFO appointment was effective August 12, 2018.
“After conducting an extensive search for a CFO, I am thrilled
to have Jeff taking on this important role,” said Tom Greco,
President and CEO, Advance Auto Parts. “During his time at Advance,
Jeff has been a tremendous thought partner and trusted advisor to
me and the entire leadership team. In addition to Jeff’s impressive
global finance background, he is a highly respected leader
throughout our organization and has played an integral role in
building a talented and highly cohesive Finance organization. I am
confident Jeff is the right leader for this critical position, and
the entire team and I look forward to continuing to work closely
with him.”
Slone, who will join Advance on October 3, 2018, will be
responsible for the company’s Supply Chain and Procurement
functions. He will assume the supply chain responsibilities as
Leslie Starr Keating, Executive Vice President, Supply Chain
Strategy and Transformation, will be retiring at the end of the
year. In the coming months, Keating and Slone will work together to
ensure a seamless transition.
Slone joins Advance from Walgreens, where he most recently
served as Senior Vice President, Supply Chain, and was responsible
for inventory management and replenishment, imports,
transportation, distribution center operations and logistics. Prior
to Walgreens, Slone served in a number of senior supply chain and
operational leadership roles at OfficeMax, General Motors and
Federal-Mogul, among others. He also has served as a member of
Advance’s Board of Directors since 2016. With his new appointment,
Slone will resign from his role on Advance’s Board of Directors
effective October 3, 2018.
“We are extremely excited to have Reuben join our executive
leadership team at this point in our transformation,” said Greco.
“After serving for more than two years on our Board of Directors,
Reuben has a deep understanding of our business and our strategic
vision for the future. This knowledge, coupled with his proven
track record in leadership roles as well as his extensive
omnichannel fulfillment experience, will be a great addition to our
already strong Supply Chain team.”
“After serving on Advance’s Board of Directors, I am even more
confident in the opportunities that lie ahead,” said Slone. “I am
delighted to join this experienced management team and look forward
to working with Advance’s talented Team Members as we continue on
our transformation journey. In addition, I am grateful to have
worked with Leslie as she developed the supply chain strategy and I
look forward to working even more closely with her during the next
few months until her retirement.”
Greco added, “Leslie came out of retirement early in 2017 to
join Advance at my request to help build our end-to-end supply
chain strategy, strengthen our Supply Chain leadership team and
ultimately, help us find her successor. She has delivered
flawlessly against all of these objectives and positioned us well
for continued success. We thank her for her numerous contributions
and wish her nothing but the best in her retirement.”
Nigel Travis, who currently serves as Dunkin Brands’ Executive
Chairman, recently retired from his CEO position at the company
after serving as Chairman and CEO. Previously, Travis also served
in executive leadership roles at several global companies within
the retail and restaurant industries.
“Adding Nigel to the Board is wonderful for Advance, our
shareholders and our customers,” said Jeffrey C. Smith, Chair of
the Board of Directors. “He is a highly respected global executive
who will complement what is already an extremely talented Board.
While at Dunkin Brands, Nigel architected what is viewed as one of
the more successful turnaround stories in recent history and we
look forward to leveraging his wealth of experience as we continue
our own transformation at Advance.”
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 April 21, 2018, Advance operated
5,044 stores and 131 Worldpac branches in the United States,
Canada, Puerto Rico and the U.S. Virgin Islands. Advance also
serves 1,225 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 Advance, including employment opportunities,
customer services, and online shopping for parts, accessories and
other offerings can be found at www.AdvanceAutoParts.com.
Forward-Looking Statements
Certain statements contained in this release are forward-looking
statements as defined by 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,” “guidance,”
“outlook” or “estimate.” These forward-looking statements include,
but are not limited to, key assumptions for future financial
performance including statements regarding expected growth and
future performance of Advance Auto Parts, Inc. (the “Company”);
statements regarding enhancements to shareholder value, strategic
plans or initiatives, growth or profitability and all other
statements that are not statements of historical facts. These
statements are based upon assessments and assumptions of management
in light of historical results and trends, current conditions and
potential future developments that often involve judgment,
estimates, assumptions and projections. Forward-looking statements
reflect current views about our plans, strategies and prospects,
which are based on information currently available as of the date
of this report. Except as required by law, we undertake no
obligation to update any forward-looking statements to reflect
events or circumstances after the date of such statements. Please
refer to the “Risk Factors” section of the annual report on Form
10-K for the year ended December 30, 2017, and other filings
made by the Company with the Securities and Exchange Commission for
additional risk factors that could materially affect the Company’s
actual results. Forward-looking statements are subject to risks and
uncertainties, many of which are outside our control, which could
cause actual results to differ materially from these statements.
Therefore, you should not place undue reliance on those statements.
We intend for any forward-looking statements to be covered by, and
we claim the protection under, the safe harbor provisions for
forward-looking statements contained in the Private Securities
Litigation Reform Act of 1995.
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version on businesswire.com: https://www.businesswire.com/news/home/20180813005570/en/
Advance Auto Parts, Inc.Media ContactKevin
Nash, 866-463-4512kevin.nash@advance-auto.comorInvestor
ContactElisabeth
Eisleben, 919-227-5466invrelations@advanceautoparts.com
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