ROANOKE, Virginia – Advance Auto Parts announced that Executive Vice President and Chief Financial Officer Tom Okray has decided to leave the company, effective April 15.
Okray is leaving the company “to accept an executive role with a global, publicly traded company outside of the aftermarket parts industry,” according to Advance.
While Advance conducts a search for a successor, Senior Vice President, Controller and Chief Accounting Officer Jeff Shepherd will serve as interim CFO in addition to his current responsibilities, the company noted.
Prior to joining Advance in 2017, Shepherd worked at General Motors, where held various accounting and finance leadership roles, including his most recent role as controller for 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 CEO of 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.”
Okray said leaving Advance “was a difficult decision.”
“My decision was based solely on personal and professional objectives and does not reflect any disagreement with Advance’s operational or financial practices,” Okray said. “I believe the company has the right strategy to deliver on its long-term opportunities, and I wish them nothing but continued success.”
Advance also reaffirmed its full-year 2018 guidance provided earlier this year.
“We started 2018 with positive momentum, and we’re excited about the opportunities in front of us as we continue our five-year transformation journey,” said Greco. “I have the utmost confidence in our entire Advance team, and I am pleased with the solid execution we are seeing across our organization this year. I look forward to sharing more on our progress during our first quarter earnings report next month.”