Genuine Parts Company (GPC) has provided an update.
Genuine Parts Company has announced a significant leadership change with the retirement of CEO Paul D. Donahue, who will transition to Executive Chairman on June 3, 2024. His successor, William P. Stengel, who has been with the company since 2019 and previously held executive roles at HD Supply, will take over as CEO and President. This appointment coincides with an expansion of the Company’s Board of Directors and a substantial compensation package for Mr. Stengel, including a $1 million base salary and additional incentive awards.
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