Advance Auto Parts, Inc. announced it appointed Ryan Grimsland as its new executive vice president and chief financial officer, effective November 27, 2023. Tony Iskander, who has served as interim chief financial officer since August 2023 will continue in his role as senior vice president, finance and treasurer.
“I am excited to welcome Ryan to the Advance family and look forward to partnering with him as we begin a new chapter in the company’s 90-year history,” said Shane O’Kelly, president and CEO. “Following a robust search, we are confident that Ryan’s deep finance, retail, strategy development and transformation experience will be invaluable as we execute on our comprehensive business review and work to realize Advance’s full potential.
“We thank Tony for his dedication and outstanding contributions while serving in the interim role. As we look ahead, our entire team is focused on building on the progress we are already making to reposition the company for long-term success and value creation.”
Grimsland brings more than 20 years of corporate finance, treasury, financial planning, and retail strategy and transformation experience. Most recently, he served as senior vice president, strategy and transformation at Lowe’s Companies, Inc.
“I am thrilled to join Advance and honored to serve as the company’s chief financial officer. I look forward to working with Shane, the board of directors and leadership team, and the nearly 70,000 dedicated team members across the organization to deliver operational improvements, execute on the company’s repositioning, and deliver long-term, sustainable shareholder value,” Grimsland said.
In related news, Advance Auto Parts also announced it is eliminating the position of executive vice president, merchandising, marketing and e-commerce, currently held by Jason McDonell, as part of its efforts to streamline the organizational structure. As a result, McDonell will depart from the company effective December 1, 2023, and his responsibilities will be assumed by other members of the Advance leadership team, according to the company.
