PHILADELPHIA -- Pep Boys has announced that current CEO Larry Stevenson, will succeed Bernard Korman as chairman of the board. Stevenson will officially take over as chairman at the company's September board meeting, at which time Korman will retire.

In a press release issued yesterday, Stevenson thanked Korman on behalf of the company for his years of service. "On a personal note, I would like to thank Bernie for his stewardship of the board and the guidance he provided me during my first year at Pep Boys," said Stevenson.

William Leonard, president and CEO of ARAMARK, will serve as the presiding director for Pep Boys' eight independent directors.

To learn more about Pep Boys, go to: www.pepboys.com.

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