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    • By Counterman
      New Advance Auto Parts CEO Shane O’Kelly served as a U.S. Army captain in the 1990s after graduating from the U.S. Military Academy at West Point.
      Early in Advance’s third-quarter conference call on Nov. 15 – during which the company reported an operating loss of $43.7 million – O’Kelly said his time in the military taught him the importance of aligning an organization “around fewer measurable goals while ensuring while ensuring discipline and accountability in the process to achieve those goals.”
      O’Kelly, who replaced Tom Greco as CEO on Sept. 11, then outlined five “decisive actions” that Advance is taking “to help stabilize the company and return to profitable growth.”
      The headliner was the company’s decision to divest its most prized asset: Worldpac.
      Advance acquired Worldpac and Carquest in 2014 through its acquisition of General Parts International Inc. At the time, Advance boasted that the transaction created the largest provider of aftermarket parts in North America.
      Centerview Partners, an investment-banking and advisory firm, will assist with the sale process, according to the company.
      “Worldpac is a high-performing business and as you know, is very different than our core blended-box model,” O’Kelly said during the conference call. “As we get back to the fundamentals of servicing our professional and DIY customers, we view now as the right time to simplify our model. The Worldpac business still operates relatively independently from Advance, and we believe that the sale process will not create a distraction.”
      In a separate sales process, Advance plans to divest its business in Canada. Advance’s Canadian business – which goes to market under the Carquest banner – predominantly serves DIFM customers.
      As part of its operational review launched in August, Advance also announced a cost-cutting program that the company expects to generate at least $150 million in annualized savings. While Advance’s Q3 net sales were up 3% to $2.7 billion, the company reported negative cash flow through the first three quarters of 2023 – an outflow of $156.8 million.
      The cost-reduction program “will be primarily driven by simplifying our organizational structure, minimizing duplicative efforts and eliminating investments that are not core to supporting our frontline team members and customers,” O’Kelly said.
      O’Kelly noted that Advance plans to reinvest approximately $50 million from the cost-cutting program “to improve the retention of our frontline teams and ensure we have experienced team members to serve our customers.”
      “In fact, we began making changes to our frontline compensation structure in Q3 and are already seeing a reduction in turnover in targeted frontline roles,” he added.
      Advance Appoints New CFO
      Coinciding with its third-quarter earnings announcement, Advance announced the appointment of Ryan Grimsland as executive vice president and chief financial officer, effective Nov. 27.
      Tony Iskander, who has served as interim chief financial officer since August, will continue in his role as senior vice president, finance and treasurer.
      Grimsland, 46, brings more than 20 years of experience in corporate finance, treasury, financial planning and retail strategy and transformation.
      Most recently, Grimsland served as senior vice president, strategy and transformation at Lowe’s Companies. During his 17-year tenure at Lowe’s, he held leadership roles across all aspects of the finance organization, including senior vice president, corporate finance and treasurer; vice president, corporate financial planning and analysis; and vice president, stores finance.
      During Advance’s Nov. 15 conference call, O’Kelly said Grimsland “has a strong track record of driving organizational improvements while implementing best practices to resolve complex issues.”
      “In addition to our CFO announcement, we’ve taken action to streamline our management structure,” O’Kelly added. “We have reorganized parts of my leadership team and transitioned responsibilities for our marketing, merchandising and e-commerce functions to the appropriate leaders in our organization who will drive enhanced collaboration and accountability.”
      As part of that reorganization, Advance announced that it is eliminating the position of executive vice president, merchandising, marketing and e-commerce, currently held by Jason McDonell. McDonell will depart from the company effective Dec. 1.  
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    • By Advance Auto Parts
      ADVANCE AUTO PARTS OFFERING STUDENTS A CHANCE TO WIN A ‘FUEL RIDE TO COLLEGE’ AND FREE ‘OFF-TO-CAMPUS’ IN-STORE SERVICES
        Incoming college freshmen can enter to win a “fuel ride” – four years of free gasoline – after new national survey reveals gas is a significant financial strain for majority of students
      RALEIGH, N.C.--(BUSINESS WIRE)-- Advance Auto Parts (NYSE: AAP), a leading automotive aftermarket parts provider, announced today that it will help advance the education of incoming college freshmen, and ease their financial burden, by awarding 10 “fuel rides” in the form of four years of free gasoline to 10 lucky winners of the “Fuel Ride to College” sweepstakes.*
      This press release features multimedia. View the full release here: 
      link hidden, please login to view Along with providing four years of free gas to 10 college students, Advance Auto Parts is offering free in-store services, including free battery testing and installation, wiper blade installation and check engine light scanning. (Photo: Business Wire)
      Advance’s “Fuel Ride to College” sweepstakes arrives right on time as prices at the pump tick up. New data from Atomik Research reveals that 67% of college students cite gasoline for their automobile as being an expense that puts the most financial strain on their wallet**, while 76% of parents of incoming freshmen say they are worried about their student’s ability to afford gas.***
      Parents also have significant anxiety regarding the safety of their college students when it comes to the automobiles they operate, according to Atomik Research surveys commissioned by Advance. Nearly two-thirds (63%) of parents of incoming college freshmen feel very or extremely anxious about their student’s safety when it comes to maintaining their cars and about three-fourths (73%) of parents have more anxiety about the car safety of their incoming college freshman than they did during the child’s senior year in high school.
      Parents’ anxiety is warranted as more than half of college students admit to having ignored dashboard alerts and notifications, including “check engine” and “low battery warning,” according to the survey.
      To help ease this anxiety, Advance and its team of friendly automotive experts are offering students and their parents free “off-to-campus” in-store services at Advance stores nationwide, including free battery testing and installation, wiper blade installation and check engine light scanning.
      In addition to awarding 10 four-year “Fuel Rides to College,” Advance will also award 20 additional winners a $100 Advance gift card to stock up on essentials to help keep their automobiles in reliable shape this school year. If interested in learning more, visit 
      link hidden, please login to view through Aug. 18 to review eligibility requirements to enter for a chance to win and to review the sweepstakes rules. “Starting college is exciting for incoming freshmen, but that excitement is accompanied by anxiety and worry for both students and their parents, especially regarding finances and safety,” said Samantha Avivi, Advance’s chief marketing officer. “Through our ‘Fuel Ride to College’ program and complimentary curbside services for motorists, we want to put the brakes on fuel-filled worries for both students and parents, especially when it comes to having a reliable and safe automobile on the road to college, around campus, back home and everywhere in between.”
      Additional data from the Atomik surveys validate the value of a “Fuel Ride to College:”
      One-third (33%) of students cite that a lack of gas money or the cost of gas has deterred them from going to class, the library or study groups, while 60% of incoming college students’ parents express this exact worry: that the cost of gas will deter their child from going to class or education-related activities. Many college students choose between fueling their body and their automobile: more than one-third (36%) say they have compromised or cut back on groceries to fit gas money into their budget. One-quarter (25%) of college students say they’ve had to cut back or compromise school supplies to fuel their automobiles. Advance has also partnered with auto racing driver and television personality Arie Luyendyk Jr. to encourage incoming freshmen to enter for a chance to win a “Fuel Ride to College” and spread the word about Advance’s commitment to providing parents peace of mind via complimentary in-store services. Check out 
      link hidden, please login to view or visit an  link hidden, please login to view to shop for auto parts and products needed to get vehicles in shape for the school year or to receive a free off-to-campus vehicle checkup. About Advance Auto Parts
      Advance Auto Parts, Inc. is a leading automotive aftermarket parts provider that serves both professional installer and do-it-yourself customers. As of April 22, 2023, Advance operated 4,778 stores and 318 Worldpac branches primarily within the United States, with additional locations in Canada, Puerto Rico and the U.S. Virgin Islands. The company also served 1,315 independently owned Carquest branded stores across these locations in addition to Mexico and various Caribbean islands. Additional information about Advance, including employment opportunities, customer services, and online shopping for parts, accessories and other offerings can be found at 
      link hidden, please login to view. * NO PURCHASE NECESSARY TO ENTER OR WIN. A PURCHASE WILL NOT INCREASE YOUR CHANCES OF WINNING. Open only to legal residents of the 50 United States (D.C.), 17 to 20 years of age. Void where prohibited by law. Sweepstakes begins at 8:00 am ET on 8/7/23 and ends at 11:59 pm ET on 8/18/23. Subject to full Official Rules including prizes and odds, 
      link hidden, please login to view. Sponsor: Advance Stores Company, Incorporated, 4200 Six Forks Road, Raleigh, NC 27609. ** Atomik Research conducted an online survey of 1,003 college students across the United States between July 10 and 12, 2023. Qualified respondents are students currently enrolled or planning to be enrolled at a college, university, community college or trade school this fall and who own and/or regularly operate a car. The age of participants ranges between 18 and 24. Margin of error of the sample is +/- 3 percentage points with a confidence level of 95%.
      *** Atomik Research conducted an online survey of 504 parents of incoming college freshmen across the United States between July 10 and 18, 2023. Qualified respondents are parents of incoming freshmen, who own or regularly operate a car, and are planning to be enrolled at a college, university, community college or trade school this fall. Margin of error of the sample is +/- 4 percentage points with a confidence level of 95%.

      View source version on  link hidden, please login to view:  link hidden, please login to view
      Advance Auto Parts Contacts:
      Investor Relations:
      Elisabeth Eisleben
      T: (919) 227-5466
      E: [email protected]
      Media Relations:
      Darryl Carr
      T: (984) 389-7207
      E: [email protected]
       
      Source: Advance Auto Parts

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    • By Counterman
      Continental has introduced 10 new professional-quality driving lights as part of the company’s NightViu line.
      The new lights have been designed to help improve operational safety by dramatically increasing nighttime visibility.
      Engineered for use in agriculture, construction and mining, the new NightViu driving lights also are suitable for marine and powersports applications. They feature rugged aluminum diecast housings with cataphoretic coating, and resilient shatterproof polycarbonate lenses. Depending on the model, they are rated IP69K or IP67K for ingress protection (IP) from dust and water, according to the company.
      NightViu multi-function driving lights and lightbars feature free-form reflectors that direct the light beam exactly where it’s needed. NightViu reversing lights feature Fresnel lenses to create a broad field of illumination directly behind the equipment. NightViu driving lights provide up to 5,500 lumens and a beam field length of up to 440 meters.
      NightViu driving lights feature an integrated electronics driver and thermal management system to allow them to operate safely from minus 40 F to 190 F. They produce from 50 to 100 lumens per watt, depending on the model, and have been designed to ensure that they do not create electrical interference that could affect the vehicle’s existing electronics.
      “Our new NightViu driving lights provide the illumination that operators need for maximum nighttime safety,” said Edwin Betancourt Jr., product manager, Continental. “With three styles and a choice of configurations, they offer the right light for just about every application.”
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    • By Garage Gurus
      When you replace the brake pads on a Tesla electric vehicle, the regenerative braking feature can make burnishing the pads a ...
    • Incfile.com
    • By Counterman
      Purolator Filters, a division of MANN+HUMMEL, announced that the company will be kicking off its 100-year anniversary celebration at this year’s Automotive Aftermarket Product Expo (AAPEX). 
      In 2023, Purolator will be commemorating 100 years of “Purifying Your World.” In 1923, Ernest Sweetland developed and patented the first oil-filtration system, calling it the “Purolator,” short for the words “pure oil later.” As years went on, the company continued to evolve, manufacture and distribute filters, such as air, cabin air and fuel filters for the automotive industry. 
      The global filtration company MANN+HUMMEL acquired Purolator Filters in 2012. Today, Purolator has more than 2,000 filtration part numbers for automotive, light-truck and heavy-duty applications, and continues to work on product innovation and design.
      “The company maintains and extends its position as a leader in the filtration market by producing top-quality products, offering first-class service and revolutionizing the future of filtration technology,” the company said in a news release. 
      Most recently, Purolator has maintained these assurances with the creation of PurolatorBOSSpremium cabin air filters with Febreze Freshness. With a focus on filtering out virus aerosols, this product also blocks and controls odors, while preventing 99% of fine particles from entering a vehicle’s cabin, according to the company.  
      “Purolator’s goal to strive for quality and innovative products began in 1923, and still continues nearly a century later,” said Daryl Benton, vice president of sales and marketing for the automotive aftermarket with MANN+HUMMEL. “We are thrilled to celebrate our 100-year milestone in 2023. Purolator has been able to maintain its role as a market leader with leading-edge technology and global manufacturing best practices. Through continued hard work and diligence, Purolator will thrive for another 100 years.”
      After a century of innovation, the celebration will kick off at AAPEX booth A1843. AAPEX is scheduled for Nov. 1-3 in Las Vegas.
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