Greg Johnson
Jeff Shaw
Embedded in O’Reilly Automotive Inc.’s (Nasdaq: ORLY) full-year earnings report today was a planned change at the top of the company.
The Springfield-based auto parts retailer named Greg Johnson and Jeff Shaw as co-presidents. Greg Henslee is relinquishing his role as president but keeping his CEO title, according to a news release.
“O’Reilly's promote-from-within philosophy is, and always has been, a top priority for O'Reilly, and the promotion of Jeff and Greg to the positions of co-presidents is a great example of this proven model,” O’Reilly Automotive spokesman Mark Merz said via email, declining to disclose whether Henslee is preparing for retirement.
Henslee shared the president role with Ted Wise 1999-2013, when Wise transitioned to the role of executive vice president of expansion. In 2005, Henslee became CEO and co-president and Ted Wise was named chief operating officer and co-president as David O’Reilly moved from CEO to the board chairman position. Wise retired in 2015, according to Springfield Business Journal archives.
Johnson was promoted to co-president from executive vice president of supply chain, while Shaw was executive vice president of store operations and sales, Merz said.
In his new role, Johnson is responsible for merchandise, logistics, purchasing, advertising, legal and human resources. Shaw’s responsibilities include store operations, sales, real estate and acquisitions, according to the release.
O’Reilly Automotive’s 2016 earnings rose 11.4 percent to $1 billion. Sales were up to $8.6 billion from $8 billion in 2015.
ORLY shares were trading at $272.77 as of 12:32 p.m., compared with a 52-week range of $230.17 to $292.84.
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