Pep Boys Announces Planned Departure of Chief Financial Officer Harry Yanowitz
January 17 2008 - 9:00AM
Business Wire
The Pep Boys � Manny, Moe & Jack (NYSE:PBY), the nation�s
leading automotive aftermarket retail and service chain, announced
the planned departure of Chief Financial Officer Harry Yanowitz in
order to pursue other business interests. Mr. Yanowitz will
continue in his duties until such time as the Company�s financial
statements for fiscal 2007 are completed and will assist the
Company in its search for his replacement. President & CEO Jeff
Rachor said, �Harry has been instrumental in building Pep Boys�
potential and strong financial condition. He engineered a strong
balance sheet, affording us great flexibility to achieve success
with our long-term strategic plan. We wish him well in his future
endeavors and greatly appreciate his willingness to close out
fiscal 2007 and facilitate a smooth transition.� Mr. Yanowitz
remarked, �I am pleased to have had the opportunity to work with
Jeff and our new management team in developing Pep Boys� long-term
strategic plan. With the initial steps in the execution of that
plan successfully underway, I believe that the timing is now right
for me to pursue other long-held interests. Pep Boys is well
positioned to continue to reduce indebtedness, grow the business
and create substantial value for its shareholders.� About Pep Boys:
Pep Boys has over 560 stores and approximately 6,000 service bays
in 35 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
www.pepboys.com.
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