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Springfield-based auto parts retailer O’Reilly Automotive Inc. (Nasdaq: ORLY) announced top-level changes to its leadership structure.
Brad Beckham, executive vice president and chief operating officer, and Brent Kirby, executive vice president and chief supply chain officer, were promoted to co-presidents effective Jan. 9, according to a news release.
Greg Johnson has relinquished the president role but continues to serve as CEO.
"We are very fortunate to have Brad and Brent’s outstanding executive leadership experience in our company, and I am extremely confident in their ability to successfully take on these new roles as co-presidents," Johnson said in the release. "During my time as CEO, Brad and Brent have both been critical members of the O’Reilly leadership team, with Brad leading our store operations and sales and Brent leading our supply chain and omnichannel initiatives.
"Their extensive experience and significant industry knowledge, combined with that of our long-tenured executive management team, position our company to drive continued profitable growth long into the future.”
Beckham, 44, has worked for O'Reilly Automotive since 1996, and Kirby, 54, has been an employee with the company since 2018.
Both Beckham and Kirby will maintain their existing responsibilities in addition to more duties that come with the co-president roles, said Mark Merz, O’Reilly Automotive’s senior vice president of finance, via email.
Johnson, too, held the role of co-president prior to his current role. He served as co-president and CEO, with Jeff Shaw working as co-president and chief operating officer. Shaw retired from the company in early 2022, according to past reporting.
Through Shaw's retirement, Beckham was promoted to chief operating officer and Kirby was elevated to vice president of supply chain.
O'Reilly Automotive is scheduled to release its fourth-quarter and full-year financial results on Feb. 8, according to a separate news release. In the third quarter of 2022, the company reported net income of $585.4 million, a 4.8% increase from $558.7 million a year earlier. Sales during the quarter were up 9.2% to $3.8 billion from $3.5 billion in the same three-month period of 2021.
ORLY shares were trading at $827.57 as of 9:02 a.m., compared with a 52-week range of $562.90 to $870.92 per share.
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