Longtime CEO of AutoZone to step down

AutoZone will have a new chief executive come January.

The automotive replacement parts and accessories retailer said that Bill Rhodes has decided to relinquish his positions as president and CEO in January 2024. He will become executive chairman.

Rhodes will be succeeded by 29-year company veteran Philip B. Daniele, III,  currently executive VP merchandising, marketing and supply chain. He will also become a member of the board.

Rhodes, who joined AutoZone in 1994, has been president, CEO and on the board  since March 2005. In June 2007, he was named chairman. Under his watch, AutoZone has roughly doubled the number of stores, increased revenues by more than three times (to more than $17 billion this year) and grown the stock price more than 25 times, the company noted. 

“Bill {Rhodes], the executive committee, and CEO team have led the company through unprecedented growth while continuing to nurture and evolve AutoZone’s unique and powerful culture,” said Earl G. Graves, Jr., lead director. “We knew this day was coming and have been working a very disciplined succession planning process for many years. Phil [Daniele] shares Bill’s passion for the business and most importantly, for our AutoZoners. He will continue AutoZone’s long-standing disciplined approach and will focus first, like we always have, on our customers.

Graves added that Daniele has worked in many parts of the organization, including virtually all leadership roles in store operations, has spent many years on AutoZone’s merchandising team, led commercial, been very involved in information technology. He has overseen the company’s  supply chain and marketing teams for the last two years. 

“Being an AutoZoner and having the opportunity to help lead this amazing team has been one of the greatest honors of my life,” said Rhodes. “Phil [Daniele] and I have worked together very closely for over 25 years. Phil knows this company as well as anybody and has a passion for this business that is arguably un-paralleled. More importantly, Phil understands AutoZone’s success has been driven by a deep, passionate set of leaders who support great AutoZoners across the globe.”

As of May 6, 2023, AutoZone had 6,248 stores in the U.S., 713 stores in Mexico and 83 stores in Brazil for a total store count of 7,044 locations.