-
Welcome to Auto Parts Forum
Whether you are a veteran automotive parts guru or just someone looking for some quick auto parts advice, register today and start a new topic in our forum. Registration is free and you can even sign up with social network platforms such as Facebook, Twitter, Google, and LinkedIn.
Advance Exec Lauren Beaulieu: ‘We Need To Remain Agile’
-
Similar Topics
-
By Counterman
NTN Bearing Corp. of America is sharing its story of support for a local animal rescue.
On Nov. 16, NTN donated a Mercedes-Benz Sprinter van with its cargo hold full of supplies to Wright-Way Rescue, but it didn’t happen without a bit of good fortune.
In October, Wright-Way Rescue, an animal rescue organization based in Morton Grove, Illinois, had an accident with a van used for its animal-rescue missions. The accident rendered the van a total loss with an insurance payout that would not be sufficient to purchase a replacement vehicle.
With countless animal lives hanging in the balance, Wright-Way put out a call to the community to help raise funds for a replacement vehicle.
Meanwhile, NTN recently had replaced its Technical Training Unit van, and had begun looking for a deserving home for the previous van, a 2011 Mercedes-Benz Sprinter 2500.
Even after 12 years of onsite bearing-training service, the van has been well-maintained and has a lot of useful life left in it, according to NTN. The NTN team contacted multiple charities looking for a cause that could make good use of the van, but had not found the right fit. And that’s when the stars aligned.
Wright-Way’s call for help was picked up by local Chicago media outlets, and the headline “Suburban Rescue in ‘Dire’ Need of New Van to Save Animals from Being Euthanized” came to the attention of the NTN team.
NTN reached out to Christy Anderson, founder of Wright-Way, to see if the van would help get the organization back on the road, and she was thrilled to accept our donation offer. Because of its former duty, the van is equipped with a loading ramp, shelving and a cargo bulkhead, which all will be very useful for its new mission with Wright-Way.
“We were looking for a good home for our technical training van, and we feel fortunate to have found a deserving organization, in urgent need, based less than 10 miles away from our U.S. headquarters,” said Pete Eich, president and CEO. “Wright-Way Rescue fulfills a critical role in our community, saving the lives of dogs and cats on a daily basis, and we are thrilled that our van will go from bearing training duty to animal rescue duty. When we shared this news internally, our employees opened their hearts and filled the van with much needed supplies for Wright-Way, making an even bigger impact. I couldn’t be more proud of the NTN team.”
On Nov. 16, a group of NTN employees delivered the van to Wright-Way’s Morton Grove location. The NTN team was greeted by the grateful team from Wright-Way Rescue to hand off the vehicle, tour their facility and meet some of the animals Wright-Way works so hard to rescue.
At the end of the day, Wright-Way had gained a much-needed vehicle and supplies, and the NTN team had gained the satisfaction that they were able to help a deserving organization in the community. Wright-Way also was left with one less dog to find a home for, as a member of the NTN HR team fell in love with a puppy and had to take her home.
NTN launched a new Community Spirit and Engagement Policy in January 2023, with the purpose of managing the company in a responsible and ethical manner and making a positive impact on the communities in which the company operates. The goals of the policy include maintaining a community involvement program that contributes time and resources to charitable organizations and encourages employees to have an active role within the local community, and making positive contributions to the community and building partnerships with other groups and organizations, according to NTN.
“NTN’s donation of this vehicle to Wright-Way Rescue aligns perfectly with the goals of NTN’s Community Spirit and Engagement Policy,” said Brad Fideli, director, human resources. “The effort of our team to go the extra-mile in collecting needed supplies from our employees and community are a great example of the impact a program like ours can have. We are proud to contribute to our community and build relationships with wonderful organizations like Wright-Way.”
Wright-Way Rescue, a nonprofit 501 (c)(3) animal rescue organization, has multiple locations in the Chicago suburbs and downstate Illinois. To learn more about Wright-Way Rescue and how you can help support its mission, visit
link hidden, please login to view. The post
link hidden, please login to view appeared first on link hidden, please login to view.
link hidden, please login to view -
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.
The post
link hidden, please login to view appeared first on link hidden, please login to view.
link hidden, please login to view -
By partsman
Advance Auto Parts announced today, as part of their Q3 earnings release, that they are initiatiating the sale of their Worldpac and Canadian businesses (operates under Carquest).
Strategic Review Update
The company has initiated separate sale processes for the potential divestiture of Worldpac and the company’s Canada business. Worldpac, a leading automotive wholesale distributor of original equipment and aftermarket parts for all makes/all models, is highly recognized for its world class technology, catalog, product brand assortment and training. The company's Canadian business, which predominantly serves commercial customers, goes to market under the Carquest banner.
The company has engaged Centerview Partners to assist in the sale processes. The company has not set a timetable for the conclusion of the sale processes and does not intend to comment on or provide updates regarding these matters unless and until the processes are concluded or it determines that further disclosure is appropriate or required.
link hidden, please login to view
-
By Gary
Need hood for 03_08 Toyota corolla. Any color. An in the Atlanta Ga area. Can pick up if close by.
-
By Counterman
Advance Auto Parts presented its 2023 Vendor Partner of the Year Award to National Refrigerants, a worldwide distributor of refrigerant products.
Advance presented the award during the company’s annual Partner Summit on Oct. 16 in Raleigh, North Carolina. During the event, Advance honored several vendors for their partnership and performance over the past year.
A key partner in Advance’s chemicals business, National Refrigerants worked closely with Advance’s inventory team to provide a steady supply of refrigerant products in authorized markets across the United States while helping Advance navigate state and local regulations around the selling of refrigerant products. National Refrigerants has been a trusted and reliable vendor partner for more than five years, enabling Advance to grow its business in the A/C-chemicals category, Advanced noted.
“Passionate and dedicated vendor partners are a vital component of our company’s success,” said Jason McDonell, Advance’s executive vice president of merchandising, marketing and eCommerce. “Their ability to consistently provide a quality product mix while collaborating on innovative strategies and solutions allows us to better serve the needs of our DIY and professional customers. On behalf of Advance, congratulations to National Refrigerants and all our award-winning vendors, and thank you to all who joined us at this year’s Partner Summit.”
Other award winners include Amalie Oil Company, which was named Advance’s Superior Availability Vendor Partner of the Year. Advance’s supplier of FRAM motor oil and lubricants, Amalie helped Advance maintain exemplary in-stock levels and growth in multiple categories, including heavy-duty motor oil.
“Amalie’s support allowed Advance to better serve customers with a greater product choice in the light-duty, heavy-duty and diesel motor-oil categories,” Advance added.
Advance awarded the Together with Speed Vendor Partner of the Year Award to ITW-Global Brands in recognition of its strategic support across multiple product categories at Advance, including wiper blades, wash and wax, body repair and performance chemicals. ITW’s team supported Advance through product innovation and marketing engagement while ensuring product availability to drive sales for Advance, according to Advance.
Advanced named MotoRad the Excellence in Collaboration Vendor Partner of the Year.
“Over the course of the year, MotoRad consistently showcased outstanding fill rates, product-technology innovation and creative solutions that include data-driven product recommendations,” Advance said in a news release. “Their proactive problem-solving strategies boosted the overall efficiency and effectiveness of Advance’s operations, ultimately enhancing sales and customer satisfaction.”
Advanced named Sylvania the Strategic Initiative Vendor of the Year for its exceptional support of Advance’s lighting category. Sylvania’s collaboration resulted in higher fill rates and sales growth, while also reflecting Advance’s cultural beliefs through a focus on team-member training and other lighting-category enhancements, according to Advance. Advanced named Legends Marketing the Marketing Partner of the Year for its support, advocacy and growth of Advance’s TechNet professional repair-shop network. Legends Marketing elevated the authenticity of the TechNet brand through creative solutions such as its unique video series featuring TechNet shop owners in their communities. The company’s work on behalf of Advance and TechNet shops resulted in a sixth consecutive year of membership and sales growth.
The post
link hidden, please login to view appeared first on link hidden, please login to view.
link hidden, please login to view
-
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.