Advance Auto Parts Announces Leadership Succession Plan

Advance Auto Parts Announces Leadership Succession Plan

Tom Greco to retire as president and CEO at the end of 2023; Board initiates search for his successor.

Advance Auto Parts today announced that Tom Greco has informed the company of his plan to retire as president and CEO of the company at the end of the year. Following Greco’s retirement, he plans to serve in an advisory capacity through a transition period.

In connection with Greco’s planned retirement and the company’s succession planning process, the Advance Auto Parts Board has formed a Succession Committee, composed of independent directors. The Board intends to retain a leading executive search firm to assist in a thorough and comprehensive search that considers both internal and external candidates.

Greco commented, “It has been a privilege to lead Advance and I am extremely proud of the talented team we have built as well as the accomplishments we have delivered together. Since my appointment as CEO, we have successfully integrated a transformative acquisition while scaling the business and enhancing our operational efficiency, inventory and distribution capabilities to better serve our customers.”

He added, “I believe now is the right time to begin to transition leadership for two primary reasons. First, we are in the final year of our three-year strategic business plan and are in the process of updating our next multi-year strategy. This transition will enable my successor to play a role in developing the next chapter of Advance’s strategy and help ensure the long-term success of Advance. Secondly, by planning for retirement in advance, I will be able to work with the Board’s Succession Committee to identify my successor and facilitate a smooth transition. In the meantime, I’m committed to the execution of our 2023 plan to continue delivering for customers and driving long-term shareholder value.”

Eugene I. Lee, Jr., chair of the Board of Directors, stated, “On behalf of the board, we thank Tom for his service and ongoing commitment to Advance. Tom has constructed a strong foundation that will enable success in Advance’s next chapters. Under his leadership, Advance has transformed its talent base and culture, delivered nearly $2 billion of revenue growth and more than doubled its adjusted earnings per share over the last five years. Advance is now better positioned to meet the challenges of today’s dynamic environment and as we undertake our search for the next CEO, we are focused on ensuring that the company continues to unlock its enormous potential and deliver long-term shareholder value.”

You May Also Like

Brake Manufacturers Council Appoints New Chair

Brendan Morris, currently the vice president of sales at GRI Engineering, will succeed John Bennett, managing director at Trelleborg Sealing Solutions Detroit, Inc.

Brake Manufacturers Council Appoints New Chair

MEMA Aftermarket Suppliers announced the appointment of Brendan Morris as the new Chair of the Brake Manufacturers Council. Morris, currently the vice president of sales at GRI Engineering, a MAT Holdings company, will succeed John Bennett, managing director at Trelleborg Sealing Solutions Detroit, Inc.

Morris's appointment is effective immediately, and he will preside over his first BMC meeting this coming November during AAPEX.

Clarios Announces Additions, Promotions Within its Aftermarket Team 

Iain McDaniels is promoted to vice president, aftermarket and market development, for U.S. and Canada.

ACC-Board-Now-Accepting-Nominations
SKF Group Announces Leadership Transition

Philipp Herlein, head of the global vehicle aftermarket division, has been appointed managing director of the global SKF lubrication & MPT division, effective October 1.

SKF Group Announces Leadership Transition
Andrew Grose Named Vice President of Grote Networks

With a background in engineering and strategy, Grose will lead the newly formed Grote Networks Business Division.

Andrew Grose Named Vice President of Grote Networks
Coolidge Appointed to Amotiv Board

David Coolidge BA, MBA, MSA was named a non-executive director of the Company, effective June 25.

David Coolidge
Other Posts
Women at the Wheel: Amanda Wray

Wray is vice president, field operations at Advance Auto Parts.

WATW_Amanda_Wray
Cruickshank Elected CAWA’s Secretary to the Board of Directors

At the CAWA June Leadership & Educational Forum, Brian Cruickshank of Schwartz Advisors was elected the 2025 Secretary to the Board of Directors.

Northwood University Taps Inaugural Professor of Automotive Strategy 

David Ovethal is Northwood’s first-ever Subaru of New England Professor of Automotive Strategy.

Tint World Strengthens Executive Team

Experienced industry executives J.R. Stocks and Kurt Hurley have joined the company.

Tint-World-Executives