Press release
O’Reilly Automotive, Inc. Announces Leadership Succession Plan
Chief Executive Officer Greg Johnson to retireBrad Beckham to be promoted to Chief Executive OfficerBrent Kirby to be promoted to President SPRINGFIELD, Mo.,
About this update from O'reilly Automotive, Inc.
[{"type":"text","content":"Chief Executive Officer Greg Johnson to retireBrad Beckham to be promoted to Chief Executive OfficerBrent Kirby to be promoted to President SPRINGFIELD, Mo., July 26, 2023 (GLOBE NEWSWIRE) -- O’Reilly Automotive, Inc. (the “Company” or “O’Reilly”) (Nasdaq: ORLY), a leading retailer in the automotive aftermarket industry, today announced the Company’s leadership succession plan. Greg Johnson, the Company’s Chief Executive Officer (“CEO”), has informed the Company’s Board of Directors (the “Board”) of his intention to retire from the Company effective January 31, 2024. The Board has selected Brad Beckham, the Company’s Co-President, to succeed Mr. Johnson as CEO upon Mr. Johnson’s retirement. The Board has also determined that Brent Kirby, the Company’s Co-President, will be promoted to President upon Mr. Johnson’s retirement. Executive Chairman of the Board, Greg Henslee, commented, “On behalf of the Board, I would like to express my sincere gratitude to Greg for his 41 years of dedicated service to O’Reilly and, most importantly, for his outstanding leadership as CEO during a truly momentous phase of our Company’s history. Greg has mentored and developed a strong executive leadership team who led the Company through a period of unprecedented growth, driving record profitability. Greg is extremely passionate about and committed to perpetuating the O’Reilly Culture and is relentlessly focused on driving excellent customer service in all aspects of our business. Above all, Greg has been a champion for O’Reilly’s promote from within philosophy and our dedication to long-term succession planning, and he has done an exemplary job preparing both Brad Beckham and Brent Kirby for their new roles. Brad shares Greg’s passion for O’Reilly. He is a highly respected member of our executive team whose considerable experience and significant industry knowledge make him exceptionally qualified to succeed Greg as CEO. Brent is also a proven leader and his extensive retail supply chain and omnichannel experience is critical to successfully driving our Company’s strategic initiatives. The Company is well prepared for this executive leadership transition and the Board remains highly confident in Team O’Reilly’s ability to continue to generate long-term value for our shareholders.” “It has been such a privilege to play a part in O’Reilly’s incredible...