O’Reilly Automotive Inc. (Nasdaq: ORLY) added an executive of the Charlotte Hornets professional basketball organization to its board of directors.
The appointment of Fred Whitfield, 63, expands O'Reilly Automotive's board to 10 members, according to a news release.
“The expansion of the company’s board with Mr. Whitfield’s appointment is part of our ongoing focus to bolster the strength and diversity of our board," said Greg Henslee, chair of the O'Reilly Auto board, in the release. "Mr. Whitfield brings to the company unique and extensive expertise in areas of the law and legal compliance, brand management and strategies, business development, and diversity and inclusion, as we continue to enhance our board with the broad experience and skill sets that provide the governance and oversight to drive our continued long-term profitable growth."
Whitfield has served as president, vice chair, alternate governor and minority owner of Hornets Sports & Entertainment since 2018 after joining the organization in 2006. In his position, he has handled sales, marketing, public relations, legal, finance and human resources for the Hornets and the Spectrum Center, where the team plays in Charlotte.
Additionally, Whitfield serves as an alternate governor on the National Basketball Association Board of Governors and as a member of the NBA Global Diversity and Inclusion Council, according to the release. His career has included roles with Jordan Brand, Nike Inc. and the Washington Wizards.
The O'Reilly Automotive board comprises:
• David O'Reilly, affiliated director and executive vice chair;
• Larry O’Reilly, affiliated director and vice chair;
• Jay Burchfield, a banking and financial services industry veteran of more than 40 years;
• Thomas Hendrickson, retired executive at The Sports Authority Inc.;
• John Murphy, director of Apria Inc.;
• Dana Perlman, senior vice president and treasurer for PVH Corp.;
• Maria Sastre, retired president and chief operating officer for Signature Flight Support Corp.;
• Andrea Weiss, founder, president and CEO of Retail Consulting Inc.; and
For the third quarter, O'Reilly Automotive reported an 8.5% increase in revenue to $3.5 billion and 6% jump in net income to $527.3 million.
ORLY shares were trading at $638.31 as of 9:26 a.m., compared with a 52-week range of $424.03 to $669.09.
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