Pep Boys CEO Adds Chairman Post

Pep Boys ( PBY) named CEO Larry Stevenson to an added chairman post Thursday.

The move comes as the current chairman, Bernard Korman, prepares to retire at the board's next meeting in September.

"On behalf of all of Pep Boys constituents, I would like to thank Bernie for over 20 years of dedicated service," Stevenson said. "On a personal note, I would like to thank Bernie for his stewardship of the Board and the guidance he provided me during my first year at Pep Boys."

The company said William Leonard will serve as presiding director for its board. Leonard is an executive at Philadelphia business services giant Aramark ( RMK).

The Philadelphia-based Pep Boys -- Manny, Moe and Jack -- operate car-repair and auto parts stores across the U.S.

Early Thursday, Pep Boys shares were flat at $24.61.

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