Paul Donahue to Transition to Executive
Chairman
Will Stengel Appointed President and
Chief Executive Officer
ATLANTA, April 29, 2024 /PRNewswire/ -- Genuine Parts
Company (NYSE: GPC), a leading global distributor of automotive and
industrial replacement parts, announced today that Paul D. Donahue will transition from chairman
and CEO to executive chairman, effective June 3, 2024. At that time, William P. Stengel, II, currently president and
COO, will succeed Mr. Donahue as president and CEO of GPC and will
serve as a member of the board of directors.
"The board is confident that Will is the right person to lead
GPC into the future and that the company is positioned to continue
delivering value to our customers and shareholders," said
John D. Johns, lead independent
director of GPC's board of directors. "During his tenure at GPC,
he's worked closely with Paul to shape the company's strategic
priorities and with the global leadership teams to evolve the
business and deliver outstanding performance."
Mr. Stengel joined the company in 2019 as executive vice
president and chief transformation officer with nearly two decades
of significant leadership and professional experience. In 2021, he
was promoted to serve as only the eighth president in the company's
history. His role expanded to president and chief operating officer
in 2023. Prior to joining GPC, he served in various executive
leadership roles at HD Supply, including as president and CEO of HD
Supply Facilities Maintenance, as well as at The Home Depot and in
various investment banking roles.
"I am humbled and honored for the opportunity to lead Genuine
Parts Company and especially grateful for my GPC teammates and the
support of Paul and the board of directors," said Mr. Stengel. "We
will continue to build on the strong foundation laid over many
years as we work to deliver solutions for our customers, invest in
talent and capabilities and create value for our shareholders."
"On behalf of the board of directors, I want to extend our
heartfelt appreciation to Paul for his remarkable leadership
spanning over two decades, culminating as chairman and CEO," said
Mr. Johns. "Under his leadership, the company simplified its
business mix, expanded its global footprint and delivered
significant shareholder value. Paul's positive impact on GPC has
been remarkable, and we look forward to his continued guidance as
he transitions to his new role as executive chairman."
"I am incredibly proud of all we have accomplished as One GPC
team, and equally grateful for the 20+ years I have been privileged
to work for this amazing company. As I transition from the CEO
role, I am pleased to welcome Will as only the sixth CEO in our
company's 96-year history," said Mr. Donahue. "I have every
confidence in Will, our global leadership teams and our board of
directors to deliver on our vision to be the leading global
automotive and industrial parts distributor and solutions
provider."
About Genuine Parts Company
Established in 1928,
Genuine Parts Company is a leading global service organization
specializing in the distribution of automotive and industrial
replacement parts. Our Automotive Parts Group operates across the
U.S., Canada, Mexico, Australasia, France, the U.K., Ireland, Germany, Poland, the
Netherlands, Belgium,
Spain and Portugal, while our Industrial Parts Group
serves customers in the U.S., Canada, Mexico and Australasia. We keep the world
moving with a vast network of over 10,700 locations spanning 17
countries supported by more than 60,000 teammates. Learn more at
genpt.com.
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SOURCE Genuine Parts Company