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LKQ Corporation Announces Early Redemption of €750 Million 3.625% Senior Notes Due 2026
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By NAPA
ATLANTA, May 1, 2024 /
link hidden, please login to view/ -- Genuine Parts Company (NYSE: GPC), a leading global distributor of automotive and industrial replacement parts, announced today an acquisition for its U.S. Automotive business. Effective April 30, 2024, the company acquired Motor Parts & Equipment Corporation (MPEC). MPEC, founded in 1938, is based in Rockford, Illinois. It is the largest independent owner of NAPA Auto Parts stores in the U.S., operating 181 locations across Illinois, Indiana, Iowa, Michigan, Minnesota and Wisconsin.
"We are pleased to announce the completion of this strategic acquisition, which aligns with our initiative to own more NAPA stores in priority markets," said Will Stengel, President & CEO-elect of GPC. "We appreciate our long-standing partnership with MPEC's Executive Chairman, Joseph Hansberry, and welcome our new MPEC teammates to GPC and NAPA. We are excited to work together to deliver solutions and value to our customers."
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
link hidden, please login to view. SOURCE Genuine Parts Company
For further information: Investor, Timothy Walsh, (678) 934-5349, Senior Director - Investor Relations; Media, Heather Ross, (678) 934-5220, Vice President - Strategic Communications
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By Counterman
Paul Donahue (at left) will transition from chairman and CEO to executive chairman. William Stengel, II, currently president and COO, will succeed Donahue as president and CEO of GPC and will serve as a member of the board of directors.
Genuine Parts Company announced 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 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.”
Stengel joined the company in 2019 as executive vice president and chief transformation officer with nearly two decades of 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 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 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 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.”
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By NAPA
ATLANTA, April 30, 2024 /
link hidden, please login to view/ -- Genuine Parts Company (NYSE: GPC), a leading global distributor of automotive and industrial replacement parts, announced that its shareholders elected Mr. Charles "Chuck" K. Stevens as a new director of the company. Additionally, Mr. E. Jenner Wood has retired as a director. Mr. Stevens held the position of executive vice president and chief financial officer of General Motors Company from 2014 to 2018. Prior to that role, he held a variety of leadership positions within General Motors Company's finance team.
Genuine Parts Company Chuck-Stevens "We want to extend our sincere gratitude to Jenner for his nearly 10 years of service on our board. We thank him for his leadership and many contributions to GPC," said Paul Donahue, Chairman and CEO. "As Jenner retires, we would also like to welcome Chuck to our Board of Directors. His extensive experience in the automotive industry, along with his financial and accounting expertise, make him a valuable addition to our board. We look forward to his future contributions to GPC."
In addition, GPC's Board of Directors declared a regular quarterly cash dividend of one dollar ($1.00) per share on the company's common stock. The dividend is payable July 1, 2024 to shareholders of record June 7, 2024.
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
link hidden, please login to view. SOURCE Genuine Parts Company
For further information: Investor contact: Timothy Walsh, (678) 934-5349, Senior Director - Investor Relations; Media contact: Heather Ross, (678) 934-5220, Vice President - Strategic Communications
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By NAPA
ATLANTA, April 29, 2024 /
link hidden, please login to view/ -- 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
link hidden, please login to view. SOURCE Genuine Parts Company
For further information: Investor Contact, Timothy Walsh, (678) 934-5349, Senior Director, Investor Relations; Media Contact, Heather Ross, (678) 934-5220, Vice President, Strategic Communications
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By NAPA
Ron Capps and his
link hidden, please login to view Toyota GR Supra looked strong in qualifying at the NHRA Four-Wide Nationals at zMAX Dragway, but the three-time Funny Car world champion didn’t have the Sunday eliminations results he was looking for after a final-round finish at the Las Vegas Four-Wide Nationals two weeks ago. The No. 5 qualifier, Capps struggled to find traction on the starting line Sunday afternoon, leading to a first-round exit. Crew chief Dean ‘Guido’ Antonelli tuned Capps to the quickest and fastest pass of Friday’s first qualifying session, a 3.877 E.T. at 335.40 MPH, to earn three bonus points. Capps had traction issues in the second session, but he came back on Saturday and ran a pair of 3-second passes, a 3.994 E.T. and a 3.901 E.T., to qualify fifth.
In Sunday’s first round of eliminations, Capps lined up against No. 4 qualifier Alexis DeJoria, No. 12 qualifier J.R. Todd, and No. 13 qualifier Buddy Hull to form the Funny Car Marquee Matchup. Capps drove into tire smoke after smashing the throttle pedal in his NAPA Auto Care machine
and wasn’t able to recover. He noted the team is still figuring out the characteristics of the new car they brought out earlier this month.
“Man, these weekends are tough,” said Capps, a four-time winner at zMAX. “I was so excited for Guido. We unloaded and went to No. 1 qualifier. It shows the hard work that our NAPA Auto Care team did testing Monday after Vegas. I’ve talked time and time again about how we have
to get ahead of the competition. Guido and our team could easily go off of what we ran last year, and we would probably win races and have a shot at a championship, but we’re looking to be better and that’s the sort of thing I love about this team.”
Capps, who’s in his third year as a driver and team owner, pointed out the off-track highlights of an otherwise challenging weekend.
“Obviously, Vegas was such a great race Friday through Sunday, and then you get to Charlotte and all the NASCAR fans came out and we almost sold the place out every day,” Capps said. “It was just an incredible crowd, and we love doing [these Four-Wide races]. We love especially doing it earlier in the year. We see the same fans when we come back in the Countdown for the second race of the playoffs.
“Had a blast all weekend with our Toyota crossover event, and then having my NAPA teammate, Christian Eckes, come hang out with us on Friday, which was a lot of fun,” Capps continued. “I was hoping to take the Wally to NAPA headquarters on Tuesday, but I’m looking forward to hanging out with my NAPA teammates, Brad Sweet, Chase Elliott, and Christian Eckes. It’s a fun event we do every year at headquarters, and then we’ll focus on going to Chicago.”
The Ron Capps Motorsports Funny Car team will have a few weeks away from the track before the next stop on the 2024 NHRA Mission Foods Drag Racing Series schedule, the Route 66 Nationals, May 17-19, at Route 66 Raceway in Joliet, Ill., outside Chicago.
Start / Finish: No. 5 / def. in first round
Points Standing / Total: No. 6 / 274 pts. (-125)
Next Race: May 17 – 19, Joliet, Ill., Route 66 NHRA Nationals
How to Watch or Listen: FS1,
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