Nov. 19, 2012
/PRNewswire/ -- Genuine Parts Company (NYSE: GPC) announced today that
has informed the Board of Directors of his plan to retire as Chief Financial Officer of the Company, effective
, 2013. The Company also announced that its Board has elected
Carol B. Yancey
to the position of Executive Vice President of Finance and Corporate Secretary. Ms. Yancey will assume the role of Chief Financial Officer upon Mr. Nix's retirement. Ms. Yancey has been with the Company for nearly 22 years and was previously Senior Vice President of Finance and Corporate Secretary of Genuine Parts Company.
, Chairman and CEO of Genuine Parts Company, commented, "On behalf of the entire organization, we want to thank
for his 34 years of dedicated service to the Company, including the last 13 years as CFO. His many contributions have been instrumental to the significant growth and strong financial performance of the Company over this time period and we wish him the very best for the future."
Mr. Gallagher added, "We identified Carol for this role as part of our careful and deliberate succession planning process. Her proven leadership and contributions over the years make her the right choice as the Company's next CFO. During her long and successful tenure with the Company, Carol was promoted numerous times and elected Senior Vice President of Finance and Corporate Secretary in 2006. Along the way, she developed a tremendous acumen for both the fundamental and financial aspects of the Company." Prior to joining Genuine Parts in 1991, Ms. Yancey was a manager at Ernst & Young, LLP.