UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): | April 24, 2017 |
Genuine Parts Company
__________________________________________
(Exact name of registrant as specified in its charter)
Georgia | 001-05690 | 58-0254510 |
_____________________ (State or other jurisdiction |
_____________ (Commission |
______________ (I.R.S. Employer |
of incorporation) | File Number) | Identification No.) |
2999 Wildwood Pkwy, Atlanta, Georgia | 30339 | |
_________________________________ (Address of principal executive offices) |
___________ (Zip Code) |
Registrants telephone number, including area code: | 770.953.1700 |
Not Applicable
______________________________________________
Former name or former address, if changed since last report
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company [ ]
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ]
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On April 24, 2017, Mr. Thomas C. Gallagher, Executive Chairman of Genuine Parts Company (the "Company"), informed the Board of Directors of the Company (the "Board") of his decision to retire as an executive officer and employee of the Company, effective June 30, 2017. Mr. Gallagher will continue to serve as Non-Executive Chairman of the Board following his retirement.
The Compensation Committee of the Board approved that upon his retirement as an employee and executive officer on June 30, 2017, Mr. Gallagher will be provided with the following post-retirement benefits for life (or the life of Mrs. Gallagher, if longer, in the case of the medical and dental benefits): (1) an office and general secretarial support within the principal offices of the Company, (2) continued coverage for Mr. and Mrs. Gallagher under the Company’s medical and dental benefit plans at active employee rates, and (3) the use by Mr. Gallagher of the Company aircraft for any Company-related business purposes.
A copy of the press release is furnished with this Current Report on Form 8-K as Exhibit 99.1.
Item 8.01 Other Events.
On April 24, 2017, the Board of Directors of Genuine Parts Company declared a regular quarterly cash dividend of sixty-seven and one-half cents ($0.675) per share on the Company’s common stock. The dividend is payable July 3, 2017 to shareholders of record June 9, 2017.
On April 24, 2017, the Board of Directors of Genuine Parts Company elected Sidney G. Jones to the position of Senior Vice President of Investor Relations. Mr. Jones has been with the Company for 27 years and was previously Vice President of Investor Relations.
A copy of the press release is furnished with this Current Report on Form 8-K as Exhibit 99.2.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
99.1 Press Release dated April 24, 2017
99.2 Press Release dated April 24, 2017
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Genuine Parts Company | ||||
April 24, 2017 | By: |
Carol B. Yancey
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Name: Carol B. Yancey | ||||
Title: Executive Vice President and CFO |
Exhibit Index
Exhibit No. | Description | |
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99.1
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Press Release dated April 24, 2017 | |
99.2
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Press Release dated April 24, 2017 |
GENUINE PARTS COMPANY
NEWS RELEASE
FOR IMMEDIATE RELEASE
GENUINE PARTS COMPANY
ANNOUNCES EXECUTIVE OFFICER CHANGE
Atlanta, Georgia, April 24, 2017 Genuine Parts Company (NYSE: GPC) announced today that Thomas C. Gallagher, Executive Chairman of Genuine Parts Company, has informed the Board of Directors of his decision to retire as an executive officer and employee of the Company, effective June 30, 2017. Mr. Gallagher will continue to serve as Non-Executive Chairman of the Board following his retirement.
Paul Donahue, President and Chief Executive Officer of Genuine Parts Company, commented, On behalf of the entire organization, we want to thank Tom for his 47 years of dedicated service to the Company. Tom positively influenced every aspect of the organization during his exceptional career, and his leadership as President from 1990 to January 2012 and CEO from 2004 to May 2016 guided our significant growth over this period. We are forever grateful for his many contributions to the Company and we wish him the very best for the future.
Mr. Donahue added, Tom has also served as our Chairman since 2005, and we look forward to his continued counsel as Non-Executive Chairman following his retirement.
About Genuine Parts Company
Genuine Parts Company is a distributor of automotive replacement parts in the U.S., Canada, Mexico and Australasia. The Company also distributes industrial replacement parts in the U.S., Canada and Mexico through its Motion Industries subsidiary. S. P. Richards Company, the Office Products Group, distributes business products in the U.S. and Canada. The Electrical/Electronic Group, EIS, Inc., distributes electrical and electronic components throughout the U.S., Canada and Mexico. Genuine Parts Company had 2016 revenues of $15.3 billion.
Contacts
Carol B. Yancey, Executive Vice President and CFO (678) 934-5044
Sidney G. Jones, Senior Vice President Investor Relations (678) 934-5628
GENUINE PARTS COMPANY
NEWS RELEASE
FOR IMMEDIATE RELEASE
GENUINE PARTS COMPANY
ANNOUNCES OFFICER CHANGE AND
DECLARES REGULAR QUARTERLY DIVIDEND
Atlanta, Georgia, April 24, 2017 Genuine Parts Company (NYSE: GPC) announced today that its Board of Directors has elected Sidney G. Jones to the position of Senior Vice President of Investor Relations. Mr. Jones has been with the Company for 27 years and was previously Vice President of Investor Relations.
Paul Donahue, President and Chief Executive Officer of Genuine Parts Company, stated, Sid has successfully led our investor relations efforts since 2003 and is well deserving of this expanded leadership role. He has distinguished himself with his broad financial and business knowledge and communicates our Companys message to both internal and external parties with critical insight and understanding. We look forward to his many future contributions.
The Board of Directors of Genuine Parts Company declared a regular quarterly cash dividend of sixty-seven and one-half cents ($0.675) per share on the Companys common stock.
The dividend is payable July 3, 2017 to shareholders of record June 9, 2017.
About Genuine Parts Company
Genuine Parts Company is a distributor of automotive replacement parts in the U.S., Canada, Mexico and Australasia. The Company also distributes industrial replacement parts in the U.S., Canada and Mexico through its Motion Industries subsidiary. S. P. Richards Company, the Office Products Group, distributes business products in the U.S. and Canada. The Electrical/Electronic Group, EIS, Inc., distributes electrical and electronic components throughout the U.S., Canada and Mexico. Genuine Parts Company had 2016 revenues of $15.3 billion.
Contacts
Carol B. Yancey, Executive Vice President and CFO (678) 934-5044
Sidney G. Jones, Senior Vice President Investor Relations (678) 934-5628