Pep Boys-Manny Moe & Jack on Monday named Scott P. Sider as
its new chief executive, effective immediately, bringing on a
veteran of Hertz Corp. to lead the automotive retailer.
Mr. Sider, 54 years old, was most recently the group president
of Hertz's Rent A Car Americas division. He joined Hertz in
1983.
The appointment fills a position that has been open since
September, when Mike Odell resigned.
John Sweetwood, who had been serving in the role in the interim,
will return to being an independent director. Mr. Sider will also
join the company's board.
Pep Boys was founded in 1921 and has more than 800 locations.
The company sells everything from tires to air fresheners and brake
kits. It has been ailing amid weakness in its tire business.
Last week, the company agreed to add three new independent
directors to its board, allowing the company to avoid a proxy fight
with shareholder Gamco Investors Inc. at its annual meeting next
month.
Gamco Investors, the firm founded and headed by investor Mario
Gabelli, said in April that it planned to nominate five directors
to Pep Boys' board at the company's annual meeting, scheduled for
July 10.
The Wall Street Journal reported in May that the company has
been approached by potential buyers, including private-equity firm
Golden Gate Capital.
Write to Chelsey Dulaney at Chelsey.Dulaney@wsj.com
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