Monro Inc., a national provider of automotive undercar repair and tire services, today announced that the company’s board of directors has appointed Hope B. Woodhouse to the board, effective immediately. Woodhouse will serve on the compensation committee and the audit committee. Monro also announced that Frederick Michael (“Mike”) Danziger has retired from the board, effective Feb. 3, 2023.
“We appreciate the constructive dialogue with shareholders and are implementing changes to strengthen Monro and improve our corporate governance,” said Robert E. Mellor, chair of the board and chair of the nominating and corporate responsibility committee. “Refreshment remains a priority for our board, and we are delighted to welcome Hope as the newest addition to the Monro board. As a highly respected executive in the financial services industry with significant leadership experience and operational expertise, Hope will be an asset for our board and a valuable resource for our management team. Hope has extensive public company board experience, including on committees addressing issues such as risk, auditing, and executive compensation, and our board’s compensation and audit committees look forward to benefitting from her perspectives.”
Woodhouse is an accomplished leader, who has held executive roles at a number of financial services firms, overseeing financial, operational, accounting and risk management execution. From 2005 to 2008, she served as chief operating officer (COO) and as a member of the management committee of Bridgewater Associates Inc. Between 2003 and 2005, she was president and COO of Auspex Group, L.P., and from 2000 to 2003 she was COO and a member of the management committee of Soros Fund Management LLC. Previously, she held executive leadership positions in various companies, including Tiger Management L.L.C. and Salomon Brothers Inc.
“I am honored to join Monro’s board of directors at such an exciting time for the company,” said Woodhouse. “Monro is an impressive company that continues to execute on operational initiatives and extend on its proud history of delivering for its customers. I look forward to working closely with my fellow board members and the management team to leverage my expertise to build the company’s national presence and deliver sustainable growth.”
“On behalf of the board, I thank Mike for his years of dedicated service to the Monro board,” said Mellor. “Among his many contributions, Mike was a member the Audit and Nominating Committees, as well as chair of the compensation committee, where he helped Monro establish and maintain strong executive compensation practices by championing ‘pay for performance’ measures.”
The addition of Woodhouse is part of the board’s ongoing refreshment process. The board remains committed to its previously announced initiative to identify additional candidates who bring complementary skills and experience to the board, including experience in retail and the automotive aftermarket.
