netrashetty
Netra Shetty
Advance Auto Parts (NYSE: AAP), headquartered in Roanoke, Virginia,[3] is the second-largest retailer of automotive replacement parts and accessories in the United States. AAP was founded in 1932 and had 2008 sales of approx. $5.1B. AAP operates 3,540 stores in 40 US states and employs over 51,000 Team Members across all operations.
In 2005, Advance Auto Parts purchased Autopart International, Inc. which operates 202 stores along the Atlantic Seaboard.
day announced changes in its leadership team intended to strengthen the company's ability to draw insights from employees, customers and partners in order to provide excellent customer experiences and solutions; provide clear accountability for each element of the enterprise's growth strategy; and place leaders with strong points of view on how to generate growth in roles where they can bring those ideas to life. Unless otherwise noted, all changes are now in effect.
"Our strategy for driving growth is to enable our employees to build stronger relationships with customers around the world. To do this, we must continue to get better at listening to and acting on the insights and ideas these relationships generate. That requires us to adjust the way we are organized to help ensure that we are best positioned to maximize individual and collective strengths, capabilities and experiences," said Brad Anderson, Best Buy's vice chairman and CEO.
"Best Buy has multiple channels, multiple brands and tens of thousands of employees who can help us learn from and serve our customers in new and unique ways," said Brian Dunn, Best Buy's president and chief operating officer. "We believe that the organizational alignment being announced today will facilitate the ongoing growth and progress of our company."
Jackson Moves to New Role, Interim CFO Named
Darren Jackson, age 42, the company's chief financial officer for the past seven years and, more recently, CFO and head of the company's Emerging Business unit, has moved to the newly-created position of executive vice president, Customer Operating Groups. In this role, Jackson leads Best Buy's entertainment, PC mobility and home solutions operating groups and also has oversight for enterprise merchandising. Best Buy Financial Services, Best Buy For Business, Magnolia Audio Video and Pacific Sales will continue to report to Jackson. A graduate of Marquette University, Jackson began his retail career with Carson Pirie Scott & Co. in Milwaukee, holding various executive positions, including chief financial officer. He then spent three years with the Seattle-based Nordstrom, Inc. as vice president and chief financial officer of its full-line store division. Jackson serves on the board of Advance Auto Parts. He also serves as the vice chairman of the board of trustees of Marquette University and on the board of Cristo Rey Network. In his new capacity, Jackson reports to Dunn.
"Best Buy has benefited greatly from Darren's leadership and insight as CFO. His deep-seated understanding of our business, coupled with his commitment to our culture and the development of our people, makes him a driving force in the next phase of Best Buy's growth," said Dunn. "Darren's desire to refocus his leadership from finance to running our Customer Operating Groups allows us to gain more clarity and accountability around the significant opportunities in front of us. Darren plays a critical role as he brings teams together to create opportunities to share expertise, create targeted solutions and ultimately drive growth by better meeting the needs of the unique customer groups within each of these brands and businesses."
As Darren Jackson makes this important transition to lead the Customer Operating Groups, Jim Muehlbauer has agreed to serve as Best Buy's interim CFO. Muehlbauer's five years with Best Buy, including his current assignment as chief financial officer of Best Buy U.S., as well as his oversight of the enterprise's investor relations, tax and controller functions, have prepared him to take on this interim responsibility. Muehlbauer, age 45, joined Best Buy in 2002 as the CFO of Musicland. Prior to that, Muehlbauer spent 10 years with The Pillsbury Company, where he held various senior-level finance management positions, including vice president and worldwide controller. A certified public accountant (inactive), Muehlbauer was named senior vice president, Finance, in 2003 and senior vice president and CFO of Best Buy U.S. in 2006. Muehlbauer reports to Anderson as interim CFO.
"We have every confidence in Jim serving in this interim role. He has adroitly managed our accounting, investor relations and tax functions for the past year, on top of reshaping our cost structure and supporting our U.S. business," said Anderson.
The company said that the executive search firm of Heidrick & Struggles has been engaged to conduct a formal search of internal and external candidates for the chief financial officer position.
Kal Patel, age 43, formerly executive vice president, Strategy and International, assumes responsibility for portions of the Emerging Business unit, previously led by Jackson. In his new role, as executive vice president - Emerging Business SBU, Patel leads the company's efforts to initiate, incubate and implement growth opportunities while increasing the enterprise's capabilities for innovation. He also will focus on building relationships with venture capitalists to enable Best Buy to learn from the experiences of others and quickly adapt best practices to advance the company's business objectives. Patel joined Best Buy in 2003 as vice president, Strategy, and was named executive vice president, Strategy and International, in 2005. He was previously a partner at Strategos, a London-based consultancy focused on framing and implementing major growth-driven transformation initiatives for clients across multiple industries. He holds a master's degree in business administration from the London School of Business. Patel reports to Dunn in his new capacity.
"Kal's world view, his understanding of the power of networks and Silicon Valley bring a unique perspective to this leadership team," said Dunn.
In 2005, Advance Auto Parts purchased Autopart International, Inc. which operates 202 stores along the Atlantic Seaboard.
day announced changes in its leadership team intended to strengthen the company's ability to draw insights from employees, customers and partners in order to provide excellent customer experiences and solutions; provide clear accountability for each element of the enterprise's growth strategy; and place leaders with strong points of view on how to generate growth in roles where they can bring those ideas to life. Unless otherwise noted, all changes are now in effect.
"Our strategy for driving growth is to enable our employees to build stronger relationships with customers around the world. To do this, we must continue to get better at listening to and acting on the insights and ideas these relationships generate. That requires us to adjust the way we are organized to help ensure that we are best positioned to maximize individual and collective strengths, capabilities and experiences," said Brad Anderson, Best Buy's vice chairman and CEO.
"Best Buy has multiple channels, multiple brands and tens of thousands of employees who can help us learn from and serve our customers in new and unique ways," said Brian Dunn, Best Buy's president and chief operating officer. "We believe that the organizational alignment being announced today will facilitate the ongoing growth and progress of our company."
Jackson Moves to New Role, Interim CFO Named
Darren Jackson, age 42, the company's chief financial officer for the past seven years and, more recently, CFO and head of the company's Emerging Business unit, has moved to the newly-created position of executive vice president, Customer Operating Groups. In this role, Jackson leads Best Buy's entertainment, PC mobility and home solutions operating groups and also has oversight for enterprise merchandising. Best Buy Financial Services, Best Buy For Business, Magnolia Audio Video and Pacific Sales will continue to report to Jackson. A graduate of Marquette University, Jackson began his retail career with Carson Pirie Scott & Co. in Milwaukee, holding various executive positions, including chief financial officer. He then spent three years with the Seattle-based Nordstrom, Inc. as vice president and chief financial officer of its full-line store division. Jackson serves on the board of Advance Auto Parts. He also serves as the vice chairman of the board of trustees of Marquette University and on the board of Cristo Rey Network. In his new capacity, Jackson reports to Dunn.
"Best Buy has benefited greatly from Darren's leadership and insight as CFO. His deep-seated understanding of our business, coupled with his commitment to our culture and the development of our people, makes him a driving force in the next phase of Best Buy's growth," said Dunn. "Darren's desire to refocus his leadership from finance to running our Customer Operating Groups allows us to gain more clarity and accountability around the significant opportunities in front of us. Darren plays a critical role as he brings teams together to create opportunities to share expertise, create targeted solutions and ultimately drive growth by better meeting the needs of the unique customer groups within each of these brands and businesses."
As Darren Jackson makes this important transition to lead the Customer Operating Groups, Jim Muehlbauer has agreed to serve as Best Buy's interim CFO. Muehlbauer's five years with Best Buy, including his current assignment as chief financial officer of Best Buy U.S., as well as his oversight of the enterprise's investor relations, tax and controller functions, have prepared him to take on this interim responsibility. Muehlbauer, age 45, joined Best Buy in 2002 as the CFO of Musicland. Prior to that, Muehlbauer spent 10 years with The Pillsbury Company, where he held various senior-level finance management positions, including vice president and worldwide controller. A certified public accountant (inactive), Muehlbauer was named senior vice president, Finance, in 2003 and senior vice president and CFO of Best Buy U.S. in 2006. Muehlbauer reports to Anderson as interim CFO.
"We have every confidence in Jim serving in this interim role. He has adroitly managed our accounting, investor relations and tax functions for the past year, on top of reshaping our cost structure and supporting our U.S. business," said Anderson.
The company said that the executive search firm of Heidrick & Struggles has been engaged to conduct a formal search of internal and external candidates for the chief financial officer position.
Kal Patel, age 43, formerly executive vice president, Strategy and International, assumes responsibility for portions of the Emerging Business unit, previously led by Jackson. In his new role, as executive vice president - Emerging Business SBU, Patel leads the company's efforts to initiate, incubate and implement growth opportunities while increasing the enterprise's capabilities for innovation. He also will focus on building relationships with venture capitalists to enable Best Buy to learn from the experiences of others and quickly adapt best practices to advance the company's business objectives. Patel joined Best Buy in 2003 as vice president, Strategy, and was named executive vice president, Strategy and International, in 2005. He was previously a partner at Strategos, a London-based consultancy focused on framing and implementing major growth-driven transformation initiatives for clients across multiple industries. He holds a master's degree in business administration from the London School of Business. Patel reports to Dunn in his new capacity.
"Kal's world view, his understanding of the power of networks and Silicon Valley bring a unique perspective to this leadership team," said Dunn.