PHILADELPHIA – Pep Boys has announced the planned departure of Chief Financial Officer (CFO) Harry Yanowitz, who has resigned in order to pursue other business interests. Yanowitz was appointed CFO in 2004. Prior to that he served as senior vice president, Strategy & Business Development, and previously served as CFO of a public company.
Yanowitz will continue in his duties until the company’s financial statements for fiscal 2007 are completed and will assist the company in its search for his replacement.
President and CEO Jeff Rachor said, “Harry has been instrumental in building Pep Boys’ potential and strong financial condition. He engineered a strong balance sheet, affording us great flexibility to achieve success with our long-term strategic plan. We wish him well in his future endeavors and greatly appreciate his willingness to close out fiscal 2007 and facilitate a smooth transition.”
Yanowitz remarked, “I am pleased to have had the opportunity to work with Jeff and our new management team in developing Pep Boys’ long-term strategic plan. With the initial steps in the execution of that plan successfully underway, I believe that the timing is now right for me to pursue other long-held interests. Pep Boys is well positioned to continue to reduce indebtedness, grow the business and create substantial value for its shareholders.”
For more information about Pep Boys, go to: www.pepboys.com.
