Advance Auto Parts Announces CFO Transition
April 3, 2018—Advance Auto Parts, Inc., today announced that executive vice president and chief financial officer (CFO) Tom Okray has decided to leave the organization, effective April 15, 2018.
Okray is leaving the company to accept an executive role with a global, publicly traded company outside of the aftermarket parts industry.
While Advance conducts a search for a successor CFO, senior vice president, controller and chief accounting officer Jeff Shepherd will serve as interim CFO in addition to his current responsibilities. Shepherd joined Advance during the first quarter of 2017 from General Motors where he held various accounting and finance leadership roles, including his most recent role as controller, General Motors Europe. A certified public accountant, Shepherd also worked at Ernst & Young for more than 15 years and was a partner with the firm.
“On behalf of the entire Advance organization, I want to thank Tom for his contributions and leadership,” said Tom Greco, president and chief executive officer, Advance Auto Parts. “I also want to recognize the world-class Finance organization that we have built during the past two years. By adding high-caliber, external talent and empowering existing leaders within the Finance organization, this team is well-positioned to continue to support our transformation and ensure a seamless transition under Jeff’s leadership.”
“This was a difficult decision for me as I have enjoyed my time at Advance, and I am confident in the company’s transformation plan,” said Okray. “My decision was based solely on personal and professional objectives and does not reflect any disagreement with Advance’s operational or financial practices. I believe the company has the right strategy to deliver on its long-term opportunities, and I wish them nothing but continued success.”