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George Sherman, who left his post as Best Buy senior vice president last month, will be Advance's new president.
Friday, April 5, 2013
Advance Auto Parts is shaking up its leadership, bringing in the man who ran Best Buy’s Geek Squad, and dropping both its chief operating officer and the executive in charge of sales and marketing for its vital commercial business.
George Sherman, who left his post as Best Buy senior vice president last month, will be Advance’s new president.
Sherman will move to Roanoke to take up the position.
The move means Advance’s current, Minnesota-based chief executive officer and president, Darren Jackson, will continue as CEO, focusing on strategy, Advance disclosed Thursday. Advance had had a president and CEO until two years ago.
“Darren felt he needed to focus on strategic and leadership development and have a president to spend 100 percent of his time focusing on execution of the fundamentals and driving out our strategies,” company spokeswoman Shelly Whitaker said.
The company said it is eliminating the post of chief operating officer, held by Kevin Freeland.
It is also eliminating the role of senior vice president for commercial sales and marketing held by Donna Broome.
Jim Durkin, now the president of its Autopart International business, will step into the new position of senior vice president for commercial business, taking responsibility for commercial sales and marketing as well as Autopart.
Advance has said potential gains in what it described as a “fragmented but faster growing commercial business” will be key to its future.
Freeland won a 4.5 percent pay raise last year, although his stock and options awards fell. Broome got a 9 percent salary increase last year and saw her stock and option awards jump, according to the company’s proxy statement filing with the U.S. Securities and Exchange Commission.
The company is also promoting Charles Tyson to the post of executive vice president for merchandising, marketing and supply chain. He had been senior vice president for merchandising and marketing.
The changes all take effect April 21.
Also, vice president Tammy Finley was promoted to be senior vice president for human resources, effective immediately.
“We needed to simplify our business alignment and clarify roles so we can work together to build on our capabilities, accelerate our commercial growth and improve our profitability,” Jackson said in a news release .
Sherman, the new president, was at Best Buy for nearly four years. He left as that company’s new chief executive officer shifted the company’s focus to improving its stores and online operations rather than expanding the Geek Squad service.
Before joining Best Buy, Sherman worked at Target Stores and Home Depot. At Target, he worked his way up from being a store manager to taking charge of store operations for its Mervyn’s department stores. At Home Depot, he led the company’s installation business.
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