Autozone Changes Managment

Timothy D. Vargo, announced his intention to step down from his daily responsibilities as president and chief operating officer and as a director in order to more closely attend to health matters in his family. Mr.Vargo will continue his involvement with AutoZone at a less time-consuming level. Mr. Odland will assume the title and responsibilities of president.

Robert J. Hunt, executive vice president and chief financial officer, has also announced his intention to retire from the day-to-day duties of CFO. Mr. Hunt has stepped down as a director, but will remain as CFO until a successor is named. He will then continue to assist the company in other capacities.

"I have enjoyed working with Tim Vargo and Bob Hunt, so this is very difficult," said Steve Odland. "Both Tim and Bob have asked to step away from their daily responsibilities, but the timing is a coincidence. Each of them has different personal or family reasons for requesting a decrease in their daily work demands. Tim and Bob have made great contributions to AutoZone, and I am very pleased that both of them will continue as AutoZoners, allowing us the ongoing benefit of their wisdom and experience.

"For now, the senior vice presidents responsible for store operations, supply chain, and merchandising will report to me. I am confident in the strong management team that Tim has built and I look forward to the opportunity to engage even more directly in the business."