Advance Auto Parts, Inc. Announces Board and Committee Appointments
February 13, 2019 at 08:01 am
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On February 11, 2019, the Board of Directors (the “Board”) of Advance Auto Parts, Inc. (“Advance”) increased the number of directors on the Board from 10 to 12 and appointed Jeffrey J. Jones II and Sharon L. McCollam to serve as directors of the Company. Mr. Jones has also been appointed as a member of the Compensation Committee of the Board and Ms. McCollam has also been appointed as a member of the Audit Committee of the Board. In connection with the appointment of Mr. Jones and Ms. McCollam as a directors, effective as of February 11, 2019, the Board’s Committees were reorganized and reconstituted as follows: Brad W. Buss as Chair of Audit Committee, Adriana Karaboutis and Sharon L. McCollam as members of Audit Committee of the company. John F. Bergstrom as Chair of Compensation Committee, Eugene I. Lee, Jr. and Jeffrey J. Jones II as members of Compensation Committee. John F. Ferraro as Chair of Nominating and Corporate Governance Committee, Fiona P. Dias, Douglas A. Pertz and Nigel Travis as members of Nominating and Corporate Governance Committee of the company. Mr. Buss and Ms. McCollam have been designated as Audit Committee Financial Experts. Jones has nearly 30 years of executive management experience with top companies in the retail, consumer products and technology industries. Prior to joining H&R Block in October 2017, Jones served as Uber’s first President from 2016 to 2017. Prior to Uber, Jones was Executive Vice President and Chief Marketing Officer of Target Corporation from 2012 to 2016 where he served as a key member of the company’s executive leadership team. Prior to retiring from Best Buy, McCollam, 56, oversaw all aspects of global finance, IT, supply chain, customer care and real estate for the company from 2012 to 2016. McCollam was broadly recognized as the co-pilot of Best Buy’s Renew Blue transformation which has been regarded by the investment community as one of the foremost omnichannel turnarounds in the retail sector. McCollam also serves as a member of the Board of Directors of Signet Jewelers Ltd., and Stitch Fix, Inc., and the privately held boards of PetSmart, Inc., Hallmark Cards, Inc., GetYourGuide AG, and Art.com. In her role on the Advance Board of Directors, McCollam will serve on the Audit Committee and has been designated as an Audit Committee Financial Expert.
Advance Auto Parts, Inc. is an automotive aftermarket parts provider in North America, serving both professional installers (professional) and do-it-yourself (DIY) customers, as well as independently owned operators. Its stores and branches offer a range selection of brand names, original equipment manufacturer (OEM) and owned brand automotive replacement parts, accessories, batteries and maintenance items for domestic and imported cars, vans, sport utility vehicles and light and heavy-duty trucks. Its stores operate primarily under the trade names Advance Auto Parts and Carquest and its branches operate under the Worldpac trade names. It operates approximately 4,785 stores and 320 Worldpac branches primarily within the United States, with additional locations in Canada, Puerto Rico and the U.S. Virgin Islands. The Company also serves approximately 1,307 independently owned Carquest branded stores across these locations in addition to Mexico and various Caribbean islands.