NAPA Auto Parts parent company shares more details on company split
Genuine Parts Co., parent company of NAPA Auto Parts, on Wednesday shared more details on its plan to split its automotive and industrial businesses into two independent, publicly traded companies targeted for Q1 2027.
The company announced the separation in February. At the time, the company said the separation would create dedicated platforms that improve operating clarity and execution speed, and establish separate management teams with tailored expertise, strategies, and decision-making authority.
After the separation, the company’s automotive business will operate as Genuine Parts Co. (GPC), and its Industrial business will operate as Motion, according to a company press release.
“The Board undertook a thoughtful and deliberate process to identify the right leaders for GPC and Motion’s next chapters,” said Russ Hardin, Genuine Parts Co. lead director, in the release. “We have great confidence in Will Stengel and Court Carruthers and believe their leadership and relevant expertise, supported by strong management teams and Board leadership, position both companies to pursue their distinct strategies, accelerate growth and create long-term shareholder value.”
Court Carruthers, a current GPC Board member, has been appointed CEO-elect of GPC and will assume the role of CEO once the separation is complete.
Jean-Jacques Lafont, a current GPC Board member and co-founder of GPC’s European operations, will serve as non-executive chairman of GPC after the separation. Bert Nappier, current executive vice president and chief financial officer, has been named GPC’s executive vice president and chief financial and operating officer.
Will Stengel, current GPC chairman and CEO, will join Motion as chairman and CEO after the separation. James Howe will continue to lead Motion’s day-to-day operations and strategy in an elevated role as President and Chief Operating Officer, effective immediately.
GPC says Carruthers brings extensive operating and executive leadership experience in business-to-business distribution. Most recently, he served as CEO of TricorBraun, a global packaging distribution company.
“During his tenure, revenue and EBITDA tripled while the company significantly expanded its global footprint,” the release states. “Previously, he spent 13 years at W.W. Grainger in various global leadership roles, most recently as group president, Americas, where he led a $9 billion distribution business across North and South America. Over his career, Carruthers has completed more than 100 acquisitions and brings deep experience in commercial growth, supply chain optimization, digital transformation, and international expansion.”
Carruthers also brings experience in the automotive aftermarket and independent-owner model through Grainger’s former automotive joint venture in Canada, according to the release.
Further executive leadership details are available here.
GPC and Motion will host separate investor days in New York City in December. GPC’s is scheduled for Dec. 8, and Motion’s for Dec. 9.
“Members of each company’s leadership team will provide details on their respective businesses and outline their go-forward strategies for growth, focused investment, and long-term value creation initiatives,” the release states. “Additional information, including webcast and registration details, will be provided in the coming weeks.”
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