New CEO at Advance Auto Parts Is Making Changes

Advance Auto Parts' AAP (NYSE) new CEO, Darren Jackson, has already begun to try and make his mark on the company. Jackson, who started as Advance's new CEO in early January after coming to the company from Best Buy, announced he will be bringing over additional executives from Best Buy to help Advance move forward and improve its relationship with customers. According to a story by Jenny Kincaid Boone in the Roanoke Times,

(Advance Auto Parts) the Roanoke-based automobile parts and accessories retailer announced three new executive hires, who all are former employees of Minnesota-based Best Buy.

One of Jackson's new hires is Michael Norona, who will be Advance's executive vice president and chief financial officer. Norona, previously president of financial services at Best Buy, replaces Michael Moore, who resigned as Advance's CFO.

Advance's new vice president of finance and investor relations is Judd Nystrom, who was senior director of retail finance at Best Buy. Adam Bergman, Advance's former investor relations representative, left the company last year.

Kevin Freeland will be Advance's new executive vice president of supply chain and information technology. He formerly was president and founder of Optimal Advantage, a retail consulting firm. But for eight years prior to that, he worked for Best Buy in several leadership roles. He's replacing C. Roy Martin, who has resigned as senior vice president of supply chain.

While none of these executives have a background in auto parts, their retail expertise and ability to work with Jackson could mean real positive change for the company. Keep a close eye on the continuing changes Jackson is attempting to make to the firm.

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