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O’Reilly Auto completes leadership transition

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O’Reilly Automotive Inc. (Nasdaq: ORLY) yesterday finalized a leadership transition announced in February.

Greg Henslee, the Springfield auto parts retailer’s CEO since 2005, relinquished the top job and became executive vice chairman of the board. He’s succeeded as CEO by Greg Johnson, who also retains his co-president role. Co-President Jeff Shaw added chief operating officer responsibilities, according to a news release.

Johnson is O’Reilly Automotive’s third CEO, following in the footsteps of Henslee and David O’Reilly, who’s now executive chairman of the board.

“With Greg Henslee’s election to the board and accepting the executive vice chairman position, we have successfully completed our leadership succession plan,” O’Reilly said in the release. “Greg Johnson and Jeff Shaw have assumed all of the day-to-day operational responsibility of the business, and we are very excited to continue O’Reilly’ s success under their leadership.”

O’Reilly Automotive board members Charlie O’Reilly and Paul Lederer also retired yesterday. Both are reaching the board’s mandatory retirement age of 78.

Under Henslee’s tenure as CEO, O’Reilly Auto grew its sales to $9 billion in 2017 from $1.7 billion in 2005 and its store count to 5,019 in 47 states from 1,249 in 19 states. Its store count grew to 5,097 in the first quarter.

During the quarter, O’Reilly Automotive posted a 15 percent increase in earnings to $304.9 million.

ORLY shares were trading at $266.72 as of 8:40 a.m., compared with a 52-week range of $169.43 to $279.23.

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