AutoZone Announces Leadership Transition Plan
26 Junho 2023 - 6:30PM
AutoZone (NYSE: AZO) today announced Bill Rhodes’ decision to
relinquish his positions as President and Chief Executive Officer
(CEO) effective January 2024. He will become Executive Chairman of
the Board. Philip B. Daniele, III, age 54, a 29-year AutoZoner and
currently Executive Vice President Merchandising, Marketing and
Supply Chain, has been selected to succeed Rhodes as CEO in January
2024 and he will also become a member of the Board of Directors.
“On behalf of the Board of Directors, I want to
thank Bill for his outstanding leadership during his more than 18
years as our CEO and we are excited and grateful that he will
remain actively involved as Executive Chairman and an Officer of
the Company. Bill, the Executive Committee, and CEO Team have led
the Company through unprecedented growth while continuing to
nurture and evolve AutoZone’s unique and powerful culture. AutoZone
is eternally grateful for his many contributions during his almost
30 years of service,” said Earl G. Graves, Jr., Lead Director. “We
knew this day was coming and have been working a very disciplined
succession planning process for many years. Today we are prepared
to announce that the Board of Directors has selected Phil Daniele
to be our next CEO. Phil shares Bill’s passion for the business and
most importantly, for our AutoZoners. He will continue AutoZone’s
long-standing disciplined approach and will focus first, like we
always have, on our customers. Phil will leverage his deep industry
knowledge as a nearly 40-year veteran of this industry. During his
AutoZone tenure, Phil has worked in many parts of the organization,
including virtually all leadership roles in Store Operations, he
has spent many years on our Merchandising team, led Commercial, has
been very involved in Information Technology and has now overseen
our Supply Chain and Marketing teams for the last two years. Over
the last decade, Phil has been intimately involved in many of our
most important strategic initiatives. We look forward to working
with Phil as he leads the Company into our next chapter of
success.”
Rhodes has been President, CEO and on the Board
of Directors since March of 2005. In June 2007, he was named
Chairman of the Board. During his tenure, as President and CEO, the
company has roughly doubled the number of stores; grown the number
of AutoZoners to approximately 115,000; increased revenues by more
than 3 times, this year surpassing $17 billion; and grown the stock
price by more than 25 times. Rhodes has also served on numerous
industry and community boards.
“Being an AutoZoner and having the opportunity
to help lead this amazing team has been one of the greatest honors
of my life. I’m incredibly excited that the Board has elected Phil
as CEO-Elect. Phil and I have worked together very closely for over
25 years,” said Rhodes. “Phil knows this company as well as anybody
and has a passion for this business that is arguably un-paralleled.
More importantly, Phil understands AutoZone’s success has been
driven by a deep, passionate set of leaders who support great
AutoZoners across the globe. He embodies what our Founder, J.R.
Hyde, III’s father taught us when he said, “No individual builds a
business…an individual builds the organization, and the
organization builds the business.”
“I am humbled to lead this organization that has
meant so much to me,” said Daniele. “I am in awe every day by the
commitment of our AutoZoners to provide exceptional service to our
customers. As CEO, it will be an honor for me to work alongside the
Board, leadership team and AutoZoners everywhere to build upon our
long history of successes. On behalf of all AutoZoners, I thank
Bill for his invaluable contributions to AutoZone and our industry.
I’m excited he will continue to be an integral part of our team and
I can leverage our long-standing relationship, his experiences,
counsel and our friendship. I know we both share that AutoZone’s
best days are ahead of us!”
About AutoZone (NYSE:AZO)As of May 6,
2023, the Company had 6,248 stores in the U.S., 713 stores
in Mexico and 83 stores in Brazil for a total
store count of 7,044. AutoZone is the leading retailer and a
leading distributor of automotive replacement parts and accessories
in the United States. Each AutoZone store carries an extensive
product line for cars, sport utility vehicles, vans and light
trucks, including new and remanufactured automotive hard parts,
maintenance items, accessories, and non-automotive
products. Many stores also have a Commercial sales program
that provides commercial credit and prompt delivery of parts and
other products to local, regional and national repair garages,
dealers, service stations, and public sector
accounts. AutoZone also sells the ALLDATA brand diagnostic and
repair software through www.alldata.com.
Additionally, AutoZone sells automotive hard parts, maintenance
items, accessories, and non-automotive products
through www.autozone.com and our
commercial customers can make purchases
through www.autozonepro.com. AutoZone
does not derive revenue from automotive repair or installation.
Contact Information:
Financial: Brian Campbell at (901)
495-7005, brian.campbell@autozone.comMedia: David
McKinney at (901)
495-7951, david.mckinney@autozone.com
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