Advance Auto Parts Names New CEO
22 January 2000
Retail Executive Larry Castellani Joins Roanoke-Based Auto Parts CompanyROANOKE, Va. -- Advance Auto Parts announced on Friday that it named Larry P. Castellani as its new chief executive officer, effective February 1, 2000. Mr. Castellani joins Advance from Royal Ahold, an international supermarket operator based in the Netherlands. Mr. Castellani will replace Garnett Smith who announced his retirement last month. Mr. Castellani has worked for Royal Ahold since 1991, most recently as president and chief executive officer of Ahold Support Services Latin America, where Ahold operates $4.5 billion of supermarket joint ventures. Prior to this position, Mr. Castellani was the president and chief executive officer of Tops Markets Inc., a $3.0 billion supermarket chain based in Buffalo, NY, which Ahold acquired in 1991. Mr. Smith will become vice-chairman of the board of directors and will assist Mr. Castellani's transition to Advance Auto Parts. Mr. Castellani will also become a member of the board of directors of Advance Holding Corporation. "We are all excited to welcome Larry into the Advance family," Mr. Smith commented. "His retail expertise will be invaluable to Advance and his commitment to customers and employees will make him a welcome member to our team." "I look forward to working with the talented managers and dedicated employees at Advance," Mr. Castellani said. "Advance is a great company with a powerful brand and a proven track record. With the integration of the Western Auto/Parts America purchase completed, Advance can fully focus on serving its customers in all of its markets. I think that 2000 and beyond will be exciting for Advance and all of its team members. In addition, PartsAmerica.com creates the ability for Advance to accelerate its growth through the Internet." Earlier in the month, Advance announced the formation of PartsAmerica.com, a new e-commerce joint venture, which is expected to become the largest e-commerce destination in the $90 billion automotive parts and accessories market. Advance Auto Parts is the primary trade name for Advance Stores Company, Incorporated, a wholly owned subsidiary of Advance Holding Corporation. Advance Auto Parts, located in Roanoke, VA, is a retailer of automotive parts and accessories through more than 1,600 stores in 37 states, primarily located in the eastern and mid-western regions of the United States, Puerto Rico and the Virgin Islands.