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AutoZone Vendor Summit Announces Contributions of Top Suppliers
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By Counterman
link hidden, please login to view announced that Jeff Koviak will assume the role of CEO effective January 1, 2025, replacing retiring CEO Larry Pavey.
link hidden, please login to view is a joint partnership between the Federated Alliance and The Pronto Network, and is made up of 300 member companies with over 5,000 locations and 80,000 employees primarily in North America. In his new role, Koviak will be dedicated to driving strategic initiatives for The Group membership that “will maximize future revenue growth while simultaneously streamlining internal systems and resources to reduce redundancy throughout the organizations,” according to a news release announcing his appointment.
“We feel Jeff is the ideal candidate to move The Group toward the original goal of strategically unifying the traditional aftermarket partners while still respecting the unique strengths that each of the individual groups offer in their marketplace,” said Sue Godschalk, president of Federated Auto Parts.
“Jeff comes to us with an exceptional background,” added Robert Roos, president and CEO of The Pronto Network. “During his 30-year career at Tenneco/DRiV, he built strong, long-term, trusting relationships with all of our members, and we are excited to have him join forces with our teams.”
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By AutoZone
MEMPHIS, Tenn. , Sept. 24, 2024 (GLOBE NEWSWIRE) -- AutoZone, Inc. (NYSE: AZO) today reported net sales of $6.2 billion for its fourth quarter (17 weeks) ended August 31, 2024 , an increase of 9.0% from the fourth quarter of fiscal 2023 (16 weeks). Excluding sales from the additional week included
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By Counterman
link hidden, please login to view announced its upcoming Automotive Summit, which will bring together automotive industry leaders and experts for a one-day event featuring insightful discussions and networking opportunities on Oct. 3 in Midland, Michigan. Organized by the Center for Automotive & Mobility Studies (CAMS) at Northwood University, the
link hidden, please login to view will cover a range of key topics facing the automotive industry today, including retail trends, dealer relations, F&I, compliance and regulations, and the state of the automotive aftermarket sector. “The CAMS industry Summit is a unique opportunity for industry professionals and future leaders to come together and explore the dynamics shaping the automotive landscape,” said Dr. Matthew Bennett, vice president of strategic alliances and CAMS. “Northwood University is committed to fostering meaningful dialogue that drives innovation and growth in this critical sector.”
The CAMS Industry Summit will kick off at 8 a.m. Oct. 3 with networking and coffee, followed by a series of sessions featuring prominent industry figures, Northwood University said, including:
-Shannon Robertson, executive vice president, Association of Finance & Insurance Professionals (AFIP)
-Jeff Beals, senior vice president, professional services, CDK Global
-Brian Benstock, general manager and vice president, Paragon Honda & Acura
-Mike Cavanaugh, regional vice president, Lithia and Driveway
-Rebecca Chernek, vice president, strategic client relations, Agora Data
-Eric Flow, president of management services, Flow Automotive Companies
-Adam Genei, owner, Mobsteel/Detroit Steel Wheel Co.
-Don Hall, owner, Don Hall Automotive Group, and president/CEO of the Virginia Automobile Dealers Association (VADA)
–Grace Huang, president, inventory solutions, Cox Automotive
-Ted Hughes,
link hidden, please login to view (AWDA) executive director, and senior director of community engagement for the link hidden, please login to view
-Ted Ings, founder, Ted Ings’ Fixed Ops Roundtable
-David Jett, senior vice president, Stephens Inc.
-Tom Kline, founder, Better Vantage Point
-Bob Kron, president and chief operating officer for The Rydell Company, and
-Shawn Leibold, director of industry relations, Reynolds and Reynolds Summit attendees will gain insights from panel discussions on various subjects, including “Current Trends in Automotive Retail,” “F&I, Compliance & Regulations,” “Current Trends in Automotive Aftermarket,” and “Dealer Relationships & The Customer Experience.”
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By AutoZone
MEMPHIS, Tenn. , Aug. 28, 2024 (GLOBE NEWSWIRE) -- AutoZone, Inc. (NYSE: AZO), the leading retailer and distributor of automotive replacement parts and accessories in the Americas , will release results for its fourth quarter ended Saturday, August 31, 2024 , before market open on Tuesday,
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By Counterman
link hidden, please login to view. announced that it has entered into a definitive agreement to sell link hidden, please login to view, to funds managed by global investment firm Carlyle for $1.5 billion in cash. The transaction is expected to close before the end of the year. “We are pleased to announce the sale of the Worldpac business,” said Shane O’Kelly, president and chief executive officer. “The sale enables our team to sharpen their focus on decisive actions to turn around the Advance blended box business. Proceeds from the transaction will provide greater financial flexibility as we continue our strategic and operational review to improve the productivity of the company’s remaining assets and better position the company for future growth and value creation. On behalf of everyone at
link hidden, please login to view, I would like to thank the more than 5,000 Worldpac team members for their dedication over the last ten years.” “We are excited to partner with Worldpac, a great business operating in attractive markets,” said Wes Bieligk, a Partner, and Katherine Barasch, a senior member of Carlyle’s Global Industrials investing team. “Our proven track record in executing complex carve-outs position us uniquely to support Worldpac and its team as an independent company.” Carlyle’s investment in Worldpac builds on the firm’s extensive carve-out experience in the Industrials sector, having invested ~$13 billion in industrial carve-outs over the past two decades, including in such companies as Axalta, Nouryon, Atotech, Signode, and Allison Transmission.
Transaction Details
Over the last 12 months, at the end of the second quarter of 2024, the Worldpac business generated approximately $2.1 billion in revenue and approximately $100 million in EBITDA. Advance expects net proceeds of approximately $1.2 billion after taxes and transaction fees. The post
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