ATLANTA — Larry Prince, chairman and CEO of Genuine Parts Co.(GPC), announced that Thomas Gallagher will succeed him as president and CEO of the company. Elected to the post by the company’s board of directors, Gallagher becomes only the fourth CEO the company in its seventy-six year history. He has been with Genuine Parts Co. for 34 years.
In a press release issued yesterday, the company said Prince will continue in his position as chairman of the board. According to GPC spokesperson and Executive Vice President of Finance Jerry Nix, this move is part of a succession plan that has been in place for some time. “Larry is 65 years old and he deemed that this was the appropriate time [to step down,]” said Nix.
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