News & Events zu Genuine Parts Co (GPC)GPCGenuine Parts Co

Genuine Parts Announces Leadership Teams Post-Separation

Genuine Parts announced future leadership teams and Board leadership for its Automotive and Industrial businesses as it advances its planned separation into two independent, publicly traded companies. Upon completion of the separation, the company's Automotive business will operate as Genuine Parts Company, or GPC, and its Industrial business will operate as Motion. Court Carruthers, a current GPC Board member, has been appointed CEO-elect of GPC, effective immediately, and will assume the role of CEO upon completion of the separation, which is targeted for the Q1 of 2027. Jean-Jacques Lafont, a current GPC Board member and Co-founder of GPC's European operations, has been appointed Non-Executive Chairman of GPC upon completion of the separation, bringing deep automotive aftermarket and independent-owner experience, global business expertise and a proven track record of organic and inorganic growth. Will Stengel, current Chairman and CEO of GPC, will join Motion as Chairman and CEO upon completion of the separation. Carruthers is a current member of the GPC Board of Directors and brings extensive operating and executive leadership experience in business-to-business distribution. The company also announced that Bert Nappier, currently Executive Vice President and CFO, will serve as Executive Vice President, Chief Financial and Operating Officer of GPC, effective immediately. The GPC leadership team, upon the separation, will also include the following individuals: Jenn Hulett, Executive Vice President and Chief People Officer; Chris Galla, Senior Vice President and General Counsel and Corporate Secretary; Alain Masse, President, North America Automotive; Franck Baduel, CEO European Automotive; Rob Cameron, Managing Director and Group CEO, Australasia. Upon the separation, the GPC Board leadership will include: Jean-Jacques Lafont, Co-founder of GPC's European business, as Non-Executive Chairman; Court Carruthers, CEO; Will Stengel Appointed Chairman and CEO of Motion. Stengel currently serves as Chairman and CO of Genuine Parts Company and will join Motion as Chairman and CEO as it establishes itself as a standalone public company. He has served as a member of the GPC Board of Directors and as the company's CEO since June 2024. Stengel joined GPC in 2019 as Executive Vice President and Chief Transformation Officer, bringing nearly two decades of leadership and business-to-business distribution experience. Howe will continue to lead Motion's day-to-day operations and strategy in an elevated role as President and COO, effective immediately. Howard Yu Appointed Executive Vice President and CFO of Motion Yu will join Motion as Executive Vice President and CFO, bringing extensive finance, capital markets and public company experience as Motion prepares to launch as an independent public company. Motion Leadership Team and Board of Directors: Kevin Stone, currently Senior Vice President, IT and Procurement, will serve as Executive Vice President, Chief Information Officer, and Billy Hamilton, currently Senior Vice President, People, will serve as Executive Vice President, Chief Human Resources Officer of Motion, effective immediately. The Motion leadership team will include the following individuals: Will Stengel, Chairman and CEO; James Howe, President and COO; Howard Yu, Executive Vice President and CFO; Kevin Stone, Executive Vice President and Chief Information Officer; Billy Hamilton, Executive Vice President and Chief Human Resources Officer. The GPC Board is in active discussions with Motion director candidates that will bring relevant and complementary experience and will be announced at the appropriate time, effective upon the separation.

Genuine Parts Confirms No Talks with Competitors, O'Reilly Shares Up Nearly 4%

Shares of auto parts retailers O'Reilly Automotive (ORLY), AutoZone (AZO) and Advance Auto Parts (AAP) are higher after Genuine Parts (GPC) commented on media reports that a rival had expressed interest in its automotive segment. On its Q2 earnings conference call, Genuine Parts Chairman and CEO Will Stengel said that while the company is aware of recent market speculation about a potential transaction between the Global Automotive business and a competitor, "I want to take this opportunity to officially confirm that we are not currently in discussions with any competitor." Stengel said Genuine Parts remains "committed" to maximizing shareholder value and "will always evaluate all potential options in that pursuit." The executive added that the company is making progress towards a separation in the first quarter of 2027 and is "excited" by the opportunity to create value as two "industry-leading" public companies. Following Genuine Parts' Q2 earnings report, DA Davidson said the read-through is positive for O'Reilly, Advance Auto, and AutoZone, with the lack of potential takeout offsetting the lower June trends, particularly because July has rebounded. In afternoon trading, shares of Genuine Parts are down 4% to $117.74, while O'Reilly is up nearly 4%, AutoZone is up 0.4%, and Advance Auto has gained nearly 5%.

Genuine Parts Denies Rival Acquisition Rumors, O'Reilly Shares Rise

Shares of auto parts retailers O'Reilly Automotive (ORLY), AutoZone (AZO), and Advance Auto Parts (AAP), moved higher in morning trading after Genuine Parts (GPC) denied rumors that a rival had expressed interest in its automotive segment. On its Q2 earnings conference call, Genuine Parts Chairman and CEO Will Stengel said that while the company is aware of recent market speculation about a potential transaction between the Global Automotive business and a competitor, "I want to take this opportunity to officially confirm that we are not currently in discussions with any competitor." Stengel said Genuine Parts remains "committed" to maximizing shareholder value and "will always evaluate all potential options in that pursuit." The executive added that the company is making progress towards a separation in the first quarter of 2027 and is "excited" by the opportunity to create value as two "industry-leading" public companies. Following Genuine Parts' Q2 earnings report, DA Davidson said the read-through is positive for O'Reilly, Advance Auto, and AutoZone, with the lack of potential takeout offsetting the lower June trends, particularly because July has rebounded. In morning trading, shares of Genuine Parts are down 7.3% to $113.51, while O'Reilly is up nearly 4%, AutoZone is up 0.4%, and Advance Auto has gained 3.9%.