AutoZone Names Philip Daniele As Next CEO; Bill Rhodes To Become Executive Chairman
Portfolio Pulse from Shivani Kumaresan
AutoZone Inc (NYSE:AZO) announced that Bill Rhodes will step down as President and CEO in January 2024, becoming Executive Chairman of the Board. Philip B. Daniele, currently Executive Vice President Merchandising, Marketing and Supply Chain, will succeed Rhodes as CEO and join the Board of Directors.
June 27, 2023 | 9:36 am
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AutoZone announced a leadership change with Philip Daniele succeeding Bill Rhodes as CEO in January 2024. Rhodes will become Executive Chairman of the Board.
The announcement of a leadership change at AutoZone is important for investors as it signals a transition in the company's management. However, the impact on the stock price is likely to be neutral in the short term, as the change is planned for January 2024 and the company's shares already closed 2.18% higher on Monday.
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