Pep Boys Names Jeffrey C. Rachor President & CEOJeffrey C. Rachor
March 13 2007 - 5:41PM
Business Wire
The Pep Boys - Manny, Moe & Jack (NYSE:PBY), the nation's
leading automotive aftermarket retail and service chain, announced
the appointment of Jeffrey C. Rachor
(http://www.pepboys.com/extra.html) as its new President &
Chief Executive Officer. Mr. Rachor, who is expected to start in
his position with Pep Boys by March 26, 2007, was also appointed to
the Board of Directors. Mr. Rachor, 45, most recently served as
President, Chief Operating Officer, and a Director of Sonic
Automotive Inc, a fortune 300 company and the third largest
automotive retailer in the United States. Mr. Rachor joined Sonic
Automotive in 1997 and has served in a variety of key operations
positions with them. He has over twenty years of experience in
automotive retailing, including extensive experience with
multi-unit service center operations. In connection with Mr.
Rachor�s appointment, William Leonard, who is currently serving as
Interim CEO, will resume his position as non-executive Chairman of
the Board. Mr. Leonard said, �We are extremely pleased that our
exhaustive search has led us to such an accomplished executive with
extensive automotive service experience. The Board of Directors was
unanimous in its support of hiring Jeff.� Mr. Rachor said, �I am
very excited about the opportunity to lead a company with a
household name like Pep Boys and look forward to working with the
Board of Directors and the entire team of almost 20,000 associates
to build Pep Boys to new levels of prosperity.� Pep Boys has 593
stores and more than 6,000 service bays in 36 states and Puerto
Rico. Along with its vehicle repair and maintenance capabilities,
the Company also serves the commercial auto parts delivery market
and is one of the leading sellers of replacement tires in the
United States. Customers can find the nearest location by calling
1-800 -PEP-BOYS or by visiting pepboys.com. Certain statements
contained herein constitute "forward-looking statements" within the
meaning of The Private Securities Litigation Reform Act of 1995.
The word "guidance," "expect," "anticipate," "estimates,"
"forecasts" and similar expressions are intended to identify such
forward-looking statements. Forward-looking statements include
management's expectations regarding future financial performance,
automotive aftermarket trends, levels of competition, business
development activities, future capital expenditures, financing
sources and availability and the effects of regulation and
litigation. Although the Company believes that the expectations
reflected in such forward-looking statements are based on
reasonable assumptions, it can give no assurance that its
expectations will be achieved. The Company's actual results may
differ materially from the results discussed in the forward-looking
statements due to factors beyond the control of the Company,
including the strength of the national and regional economies,
retail and commercial consumers' ability to spend, the health of
the various sectors of the automotive aftermarket, the weather in
geographical regions with a high concentration of the Company's
stores, competitive pricing, the location and number of
competitors' stores, product and labor costs and the additional
factors described in the Company's filings with the SEC. The
Company assumes no obligation to update or supplement
forward-looking statements that become untrue because of subsequent
events.
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