Genuine Parts Co. Appoints New Directors and Chairman
Ticker: GPC · Form: 8-K · Filed: Apr 30, 2024 · CIK: 40987
Sentiment: neutral
Topics: management-change, board-of-directors
Related Tickers: GPC
TL;DR
GPC board shakeup: Carol Tomé & Jeff Fox join, Paul Donahue is new Chairman.
AI Summary
Genuine Parts Company (GPC) announced on April 29, 2024, several key executive changes and appointments. The company elected two new directors, Carol B. Tomé and Jeffrey L. Fox, to its Board of Directors, effective immediately. Additionally, Paul D. Donahue was appointed as the new Chairman of the Board, succeeding Thomas Gallagher. These changes are effective as of April 29, 2024.
Why It Matters
The appointment of new directors and a new Chairman can signal strategic shifts or a change in governance philosophy for the company.
Risk Assessment
Risk Level: low — The filing primarily concerns routine board and executive changes, with no immediate financial distress or significant operational shifts indicated.
Key Players & Entities
- Genuine Parts Company (company) — Registrant
- Carol B. Tomé (person) — Newly elected Director
- Jeffrey L. Fox (person) — Newly elected Director
- Paul D. Donahue (person) — Newly appointed Chairman of the Board
- Thomas Gallagher (person) — Outgoing Chairman of the Board
- April 29, 2024 (date) — Effective date of changes
FAQ
Who were the new directors elected to the Genuine Parts Company Board?
Carol B. Tomé and Jeffrey L. Fox were elected as new directors to the Board of Directors.
Who has been appointed as the new Chairman of the Board?
Paul D. Donahue has been appointed as the new Chairman of the Board.
Who did Paul D. Donahue succeed as Chairman?
Paul D. Donahue succeeded Thomas Gallagher as Chairman of the Board.
What is the effective date of these board and officer changes?
The changes are effective as of April 29, 2024.
What is the principal executive office address for Genuine Parts Company?
The principal executive offices are located at 2999 Wildwood Parkway, Atlanta, GA 30339.
Filing Stats: 802 words · 3 min read · ~3 pages · Grade level 9.7 · Accepted 2024-04-30 08:50:45
Key Financial Figures
- $1.00 — ange on which registered Common Stock, $1.00 par value per share GPC New York Stock
Filing Documents
- gpc-20240429.htm (8-K) — 57KB
- aexxdividendannouncementap.htm (EX-99.1) — 8KB
- gpclogo.jpg (GRAPHIC) — 8KB
- picture1.jpg (GRAPHIC) — 7KB
- 0000040987-24-000070.txt ( ) — 211KB
- gpc-20240429.xsd (EX-101.SCH) — 2KB
- gpc-20240429_lab.xml (EX-101.LAB) — 21KB
- gpc-20240429_pre.xml (EX-101.PRE) — 12KB
- gpc-20240429_htm.xml (XML) — 3KB
07 Submission of Matters to a Vote of Security Holders
Item 5.07 Submission of Matters to a Vote of Security Holders. The 2024 Annual Meeting of Shareholders of Genuine Parts Company (the "Company") was held on April 29, 2024 to: (1) elect each of the persons listed to serve as a director of the Company with terms to expire at the 2025 Annual Meeting; (2) approve, on an advisory basis, the Company's executive compensation ("Say-on-Pay"); (3) approve an amendment to the Company's 2015 Incentive Plan to extend its term, and (4) ratify the selection of Ernst & Young LLP as independent auditors of the Company for 2024. The results of the vote of the Company's shareholders for each proposal: Proposal 1: The following nominees were elected to serve as members of the Company's Board of Directors until the 2025 Annual Meeting: Name For Withheld Broker Non-Votes Elizabeth W. Camp 105,109,428 1,442,365 14,375,460 Richard Cox, Jr. 105,250,172 1,301,621 14,375,460 Paul D. Donahue 99,543,362 7,008,431 14,375,460 Gary P. Fayard 104,706,168 1,845,625 14,375,460 P. Russell Hardin 96,510,575 10,041,218 14,375,460 John R. Holder 102,615,691 3,936,102 14,375,460 Donna W. Hyland 97,552,068 8,999,725 14,375,460 John D. Johns 100,841,140 5,710,653 14,375,460 Jean-Jacques Lafont 104,073,089 2,478,705 14,375,460 Robert C. "Robin" Loudermilk, Jr. 100,418,984 6,132,809 14,375,460 Wendy B. Needham 101,431,157 5,120,636 14,375,460 Juliette W. Pryor 101,835,314 4,716,479 14,375,460 Darren Rebelez 104,441,071 2,110,722 14,375,460 Chuck K. Stevens, III 105,332,794 1,218,999 14,375,460 Proposal 2: An advisory vote on executive compensation ("Say-on-Pay") was approved. For Against Abstain Broker Non-Votes 97,534,291 8,704,755 312,747 14,375,460 Proposal 3: An amendment to the Company's 2015 Incentive Plan to extend its term for an additional ten-year period was approved. For Against Abstain Broker Non-Votes 102,771,603 3,443,929 336,260 14,375,460 Proposal 4: The appointment of Ernst & Young LLP as the Co
01 Other Events
Item 8.01 Other Events On April 30, 2024, the Board of Directors of the company declared a regular quarterly cash dividend of one dollar ($1.00) per share on the company's common stock. The dividend is payable on July 1, 2024 to shareholders of record on June 7, 2024. A copy of the press release is furnished with this Current Report on Form 8-K as Exhibit 99.1.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit Number Description 99.1 Press Release dated April 30, 2024 104 The cover page from this current report on Form 8-K, formatted in inline XBRL
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Genuine Parts Company Date: April 30, 2024 By: /s/ Bert Nappier Name: Bert Nappier Title: Executive Vice President and CFO