Genuine Parts Co Appoints New Board Members

By Philip Seaworth • Thursday, September 04 15:37 • Permanent Link

Genuine Parts Company (GPC) has made significant changes to its board of directors as part of its ongoing refreshment program. The company has appointed Court Carruthers and Matt Carey as independent directors to the board, effective September 4, 2025. This move comes as part of a larger effort to strategically add financial, industry, and operational expertise to the board, replacing six retiring directors.

Court Carruthers brings over 30 years of experience in driving growth, transformation, and operational excellence in industrial distribution and service businesses. He has held executive leadership roles at TricorBraun and Grainger, and currently serves on the boards of Ryerson and Experigreen Lawn Care.

Matt Carey, on the other hand, has a strong background in technology and retail, having served in executive roles at The Home Depot, eBay, and Walmart. With significant expertise in cybersecurity, artificial intelligence, and emerging technologies, Carey is well-equipped to contribute to the strategic initiatives of GPC.

The board changes are part of a cooperation agreement with Elliott Investment Management, L.P., which emphasizes ongoing dialogue between Elliott and GPC. This agreement also includes certain customary standstill, voting, and other provisions.

The company's president and CEO, Will Stengel, expressed enthusiasm about the ongoing strategic initiatives, emphasizing the evaluation and pursuit of opportunities to enhance operational performance, improve profitability, and unlock shareholder value.

Elliott partner, Marc Steinberg, highlighted the belief that the new board additions and the strategic and operational review represent critical steps toward ensuring that GPC reaches its full potential. Steinberg also emphasized the company's current share price not reflecting the true value of its automotive aftermarket and industrial distribution businesses.

Today the company's shares have moved 3.42% to a price of $140.93. If you want to know more, read the company's complete 8-K report here.

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