Advance Auto Parts Names New Chief Executive Officer
ROANOKE, Va., May 18 /PRNewswire-FirstCall/ -- Advance Auto Parts, Inc. (NYSE:AAP), a leading automotive aftermarket retailer of parts, accessories,
batteries and maintenance items, announced today that the Board of Directors
unanimously appointed Mike Coppola as President and Chief Executive Officer of
Advance Auto Parts following Larry Castellani's planned retirement as Chief
Executive Officer. Castellani will remain as the Company's Chairman of Board.
"It has been a privilege to lead this fine company and team for the past five
years," said Castellani. "I can't think of a more able successor than Mike
Coppola to drive Advance Auto Parts and lead our team to even greater success
in the years ahead. Mike is a tremendous leader and retailer, and I look
forward to supporting him as non-executive Chairman of the Board." This leadership transition marks only the fifth chief executive officer in
Advance's 73-year history. Coppola has been with Advance since February 2001,
having served most recently as Executive Vice President and Chief Operating
Officer. Prior to joining Advance, Coppola was with Tops Friendly Markets in
Buffalo, New York, where he was Executive Vice President of Marketing.
"I am honored to assume this significant leadership role and am excited about
the opportunities ahead for Advance," said Coppola. "In addition, I am thankful
for the vote of confidence from Larry and our Board of Directors. I look
forward to leading our team and continuing the strong growth that our company
has seen under Larry's leadership." The Company also announced that Jim Wade has been appointed Executive Vice
President, Business Development. In this role, Wade will be responsible for
guiding strategic planning to drive sales, maximize profitability, and increase
shareholder value through the optimal deployment of capital.
Coppola said, "Jim will bring considerable value to this new position. He will
be our key executive responsible for our store growth strategy, retail and
commercial long-term planning, and potential new ventures. His many years of
expertise will be a tremendous asset in driving our company's continued
success." "I have worked together with Mike for the past four years and we share a common
vision for the future of Advance Auto Parts," said Wade. "I look forward to
this opportunity to focus on optimizing our future growth, and driving
shareholder value." About Advance Auto Parts Headquartered in Roanoke, VA, Advance Auto Parts is the second-largest
automotive aftermarket retailer of parts, accessories, batteries and
maintenance items, in the United States, based on sales and store count. At
April 23, 2005, the Company had 2,675 stores in 40 states, Puerto Rico and the
Virgin Islands. The Company serves both the do-it-yourself and professional
installer markets.
Additional information about the Company, employment opportunities, services,
as well as on-line purchase of parts and accessories can be found on the
Company's web site at http://www.advanceautoparts.com/. DATASOURCE: Advance Auto Parts, Inc.
CONTACT: Adam Bergman of Advance Auto Parts, Inc., +1-540-561-8450; fax, +1-540-561-6445; or Web site: http://www.advanceautoparts.com/
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