Genuine Parts Company Announces Executive Officer Changes And Declares Regular
ATLANTA, Nov. 19, 2012
ATLANTA, Nov. 19, 2012 /PRNewswire/ --Genuine Parts Company (NYSE: GPC)
announced today that Jerry Nix has informed the Board of Directors of his plan
to retire as Chief Financial Officer of the Company, effective March 1, 2013.
The Company also announced that its Board has elected Carol B. Yancey to the
position of Executive Vice President of Finance and Corporate Secretary. Ms.
Yancey will assume the role of Chief Financial Officer upon Mr. Nix's
retirement. Ms. Yancey has been with the Company for nearly 22 years and was
previously Senior Vice President of Finance and Corporate Secretary of Genuine
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Tom Gallagher, Chairman and CEO of Genuine Parts Company, commented, "On
behalf of the entire organization, we want to thank Jerry Nix for his 34 years
of dedicated service to the Company, including the last 13 years as CFO. His
many contributions have been instrumental to the significant growth and strong
financial performance of the Company over this time period and we wish him the
very best for the future."
Mr. Gallagher added, "We identified Carol for this role as part of our careful
and deliberate succession planning process. Her proven leadership and
contributions over the years make her the right choice as the Company's next
CFO. During her long and successful tenure with the Company, Carol was
promoted numerous times and elected Senior Vice President of Finance and
Corporate Secretary in 2006. Along the way, she developed a tremendous acumen
for both the fundamental and financial aspects of the Company." Prior to
joining Genuine Parts in 1991, Ms. Yancey was a manager at Ernst & Young,
The Board of Directors of Genuine Parts Company declared a regular quarterly
cash dividend of forty-nine and one-half cents ($0.495) per share on the
Company's common stock.
The dividend is payable January 2, 2013 to shareholders of record December 7,
About Genuine Parts Company
Genuine Parts Company is a distributor of automotive replacement parts in the
U.S., Canada and Mexico. The Company also distributes industrial replacement
parts in the U.S., Canada and Mexico through its Motion Industries
subsidiary. S. P. Richards Company, the Office Products Group, distributes
business products nationwide in the U.S. and in Canada. The
Electrical/Electronic Group, EIS, Inc., distributes electrical and electronic
components throughout the U.S., Canada and Mexico. Genuine Parts Company had
2011 revenues of $12.5 billion.
SOURCE Genuine Parts Company
Contact: Jerry W. Nix, Vice Chairman and CFO, +1-770-612-2048, or Sidney G.
Jones, Vice President-Investor Relations, +1-770-818-4628
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