ATLANTA, April 22, 2019 /PRNewswire/ -- Genuine Parts
Company (NYSE: GPC) announced today that its Board of Directors has
appointed Paul D. Donahue as
Chairman of the Board of Directors. Mr. Donahue has served as
President and CEO of Genuine Parts Company since May 1, 2016. He will continue as CEO and,
effective today, add the position of Chairman.
Tom Gallagher, the former
Chairman of the Board, stated, "Paul is well deserving of his new
responsibilities as Chairman of the Board. He has served the
Company in key executive roles since 2003, including the last three
years as President and CEO, and is perfectly suited to lead the
Company and its Board in the coming years."
Mr. Donahue commented, "It is a privilege and an honor to serve
as Chairman of the Board of Genuine Parts Company. I want to
thank the Board for their confidence in my leadership and express
my sincere gratitude to Tom, who served so admirably as Chairman
for the last 14 years. We are fortunate that Tom will
continue to serve as a Director on the GPC Board."
The Company also announced today that its Board of Directors
declared a regular quarterly cash dividend of seventy-six and
one-quarter cents ($0.7625) per share
on the Company's common stock.
The dividend is payable July 1,
2019 to shareholders of record June
7, 2019.
About Genuine Parts Company
Genuine Parts Company is
a distributor of automotive replacement parts in the U.S.,
Canada, Mexico, Australasia, France, the U.K., Germany and Poland. The Company also
distributes industrial replacement parts and electrical specialty
materials in the U.S., Canada and
Mexico through its Industrial
Parts Group. S.P. Richards Company, the Business Products
Group, distributes a variety of business products in the U.S. and
in Canada. Genuine Parts Company had 2018 revenues of
$18.7 billion. Further
information is available at www.genpt.com.
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SOURCE Genuine Parts Company