Advance Auto Parts Announces Departure of Chief Accounting Officer to Assume the Role of Chief Financial Officer at a Public Company
Advance Auto Parts, Inc. (NYSE: AAP) announced the departure of Andrew Page, senior VP and chief accounting officer, effective April 9, 2021, as he pursues a CFO role. Tom Greco, CEO, praised Page's significant contributions, including improvements in accounting functions and initiatives supporting diversity and inclusion. A search for a new CAO has commenced, and CFO Jeff Shepherd will handle CAO responsibilities temporarily. The company operates 4,806 stores across North America and serves about 1,277 independent Carquest stores.
- Andrew Page enhanced capabilities within the accounting function.
- Significant contributions towards diversity and inclusion initiatives.
- Departure of a key executive could disrupt organizational stability.
Advance Auto Parts, Inc. (NYSE: AAP), a leading automotive aftermarket parts provider, today announced Andrew Page, senior vice president, controller and chief accounting officer (CAO), is leaving Advance to pursue his career goal of being a chief financial officer, effective April 9, 2021.
"I want to thank Andrew for his leadership and contributions to Advance over the past two years,” said Tom Greco, president and chief executive officer of Advance Auto Parts. “Andrew has improved capabilities within our accounting function, built a talented team and led several important initiatives that will positively impact the company for years to come. In addition, Andrew has made meaningful contributions helping to further our diversity and inclusion agenda, which is critical to the long term success of Advance. Champion Inclusion is one of our core cultural beliefs and will continue to be a source of competitive advantage for Advance. In that spirit, we wish Andrew the very best as he takes on his new role.”
Advance has commenced a formal search for a new CAO. In the interim, Jeff Shepherd, chief financial officer of Advance, will assume the CAO responsibilities.
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 January 2, 2021, Advance operated 4,806 stores and 170 Worldpac branches in the United States, Canada, Puerto Rico and the U.S. Virgin Islands. The Company also serves 1,277 independently owned Carquest branded stores across these locations in addition to Mexico, Grand Cayman, the Bahamas, Turks and Caicos and British Virgin Islands. Additional information about Advance, including employment opportunities, customer services, and online shopping for parts, accessories and other offerings can be found at www.AdvanceAutoParts.com.
Forward-Looking Statements
Certain statements herein are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are usually identifiable by words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “forecast,” "guidance," “intend,” “likely,” “may,” “plan,” “position,” “possible,” “potential,” “probable,” “project,” “should,” “strategy,” “will,” or similar language. All statements other than statements of historical fact are forward-looking statements, including, but not limited to, statements about the Company's strategic initiatives, operational plans and objectives, store expansions and future business and financial performance, as well as statements regarding underlying assumptions related thereto. Forward-looking statements reflect the Company's views based on historical results, current information and assumptions related to future developments. Except as may be required by law, the Company undertakes no obligation to update any forward-looking statements made herein. Forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those projected or implied by the forward-looking statements. They include, among others, factors related to the timing and implementation of strategic initiatives, the highly competitive nature of the Company's industry, demand for the Company's products and services, complexities in its inventory and supply chain, challenges with transforming and growing its business and factors related to the current global pandemic. Please refer to “Item 1A. Risk Factors.” of the Company's most recent Annual Report on Form 10-K for a description of these and other risks and uncertainties that could cause actual results to differ materially from those projected or implied by the forward-looking statements.
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