O'Reilly Automotive, Inc. Announces Chairman of the Board Succession Plan

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  • Greg Henslee to be appointed Executive Chairman of the Board
  • David O'Reilly to be appointed Executive Vice Chairman of the Board

SPRINGFIELD, Mo., March 26, 2021 (GLOBE NEWSWIRE) — O'Reilly Automotive, Inc. (the “Company” or “O'Reilly”) (NASDAQ:ORLY), a leading retailer in the automotive aftermarket industry, today announced succession plans for its Chairman of the Board position. Subject to their election as directors at O'Reilly's 2021 Annual Meeting of Shareholders (the “Annual Meeting”) to be held on May 13, 2021, and effective immediately following the Annual Meeting, the Company's Board of Directors (the “Board”) has appointed Greg Henslee to the position of Executive Chairman of the Board (“Executive Chairman”) and David O'Reilly to the position of Executive Vice Chairman of the Board (“Executive Vice Chairman”). Mr. O'Reilly currently serves as Executive Chairman, and Mr. Henslee currently serves as Executive Vice Chairman.

“After serving for 15 distinguished years as O'Reilly's Executive Chairman and leading the Company through incredibly profitable growth, David has communicated his desire to transition into a different role on the Company's Board,” stated Jay Burchfield, Lead Independent Director of O'Reilly's Board. “During his tenure, David has provided invaluable guidance and direction to both the Company's Board and our Executive Management Team, and we are extremely grateful for his many contributions to our success. Our Board's relentless focus on self-evaluation, transparency and succession planning, for both the Board and our Executive Management Team, ensures our Board continually evolves to meet the needs of our shareholders. Our focus on continual improvement has resulted in a Board that is now more gender and ethnically diverse, has driven refreshment through the successful nomination and shareholder approval of four new and highly qualified Board members with a broad range of knowledge and skills over the last three years, has compelled fresh perspectives by rotating Board committee Chairpersons and has created enhanced shareholder disclosures and reporting with the issuance of our second annual Sustainability, Social and Governance Report. In addition, our Board's focus on succession planning ensures the Company is prepared well in advance of critical leadership changes. As a direct result of these ongoing efforts, we are very pleased to announce the appointment of Greg Henslee to the position of Executive Chairman subject to his reelection to the Board at our Annual Meeting in May. Greg has worked in the automotive aftermarket industry his entire career, accumulating a wealth of knowledge and experience, and David has done an exceptional job preparing Greg and planning for this succession. We are confident Greg is both qualified and prepared to transition into this new leadership role for the Board and the Company.”

Mr. Burchfield continued, “David has expressed his strong desire to continue to …

Full story available on Benzinga.com

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