Advance Auto Parts Inc. has announced that the company’s board of directors has retained Spencer Stuart, a leading global executive search and leadership advisory firm, to assist with the search for the company’s next CEO. The search will include internal and external candidates, including current Advance President George Sherman, who has been appointed interim CEO, effective Jan. 3, 2016.
The search process is being overseen by the board’s Nominating and Corporate Governance Committee, which is comprised of Committee Chair Jeff Smith and Lead Independent Director John Ferraro, along with Executive Chairman Jack Brouillard.
“The selection of Advance’s next CEO is our top priority,” said Brouillard. “We are pleased to be working with Spencer Stuart as our highly capable partner for this critically important search.”
“We’re excited by the opportunity to create substantial value at Advance, and selecting a world-class CEO is critical to realizing that opportunity,” said Smith. “Spencer Stuart, in conjunction with the Nominating and Corporate Governance Committee, is working expeditiously to determine the next leader of Advance.”