Business
Monro, Inc. Announces Leadership Transition
~ Brett Ponton to Step Down as President, CEO and Director ~ ~ Robert Mellor to Serve as Interim CEO ~ ~ Board of Directors Initiates Search for Successor ~ ~
About this update from Monro, Inc.
[{"type":"text","content":"~ Brett Ponton to Step Down as President, CEO and Director ~\n ~ Robert Mellor to Serve as Interim CEO ~ ~ Board of Directors Initiates Search for Successor ~ ~ Leah C. Johnson Appointed to Board of Directors ~ ROCHESTER, N.Y. , Aug. 06, 2020 (GLOBE NEWSWIRE) -- Monro, Inc. (Nasdaq: MNRO), a leading provider of automotive undercar repair and tire services, today announced that Brett Ponton has resigned as President and Chief Executive Officer of the Company, effective August 19, 2020, in order to pursue another opportunity. Ponton also resigned as a member of the Board of Directors of the Company, effective immediately. Robert Mellor, Chairman of the Monro Board of Directors has been named Interim Chief Executive Officer while the Company engages with a leading executive search firm to identify a successor. Mellor stated, “On behalf of the Board of Directors, I would like to thank Brett for his leadership and contributions to Monro. We have a strong leadership team in place and a solid foundation to drive a scalable platform for long-term sustainable growth. We are confident that our firm commitment to driving the continued execution of our Monro.Forward strategy combined with our solid balance sheet positions us well to capitalize on long-term growth opportunities.” “I am very proud of the progress Monro has made in its transformational journey and believe our accomplishments have established a strong and durable platform for future growth. It has been a pleasure to work with our incredibly talented and collaborative team and Board. For these reasons and many more, leaving Monro was an incredibly difficult personal decision. Monro is a strong business with an outstanding team and winning strategy, and I am confident the Company will achieve continued success in the years ahead,” stated Brett Ponton. Mellor has been Chairman of the Board since 2017 and has served on the Board since 2010. From March 1997 until January 2010, Mellor was Chairman of the Board and CEO of Building Materials Holding Corporation, a leading provider of building materials and construction services to professional home builders and contractors, and where he had served as a director since 1991. He also serves as Non-Executive Chairman of the Board of Coeur Mining, Inc. As Chairman, Mellor has been closely involved with the development and execution of the C...