30-year PepsiCo exec named CEO at Advance Auto Parts

From salty snacks and soft drinks to motor oil and car parts, Advance Auto Parts has tapped a lifelong PepsiCo executive to serve as its next CEO.



Advance Auto Parts, operator of nearly 5,300 stores, named Tom Greco CEO effective April 11, passing over George Sherman who serves as Advance Auto Parts president and was named interim CEO last November. Advance Auto began looking for a new CEO after the company said Darren Jackson would be stepping down effective Jan. 3 after serving as CEO for eight years. The choice of Greco, a 30 year PepsiCo veteran, over Sherman is noteworthy considering that Sherman joined Advance Auto Parts in 2013 with an impressive retail resume.



Greco boasts many accomplishments too. While at PepsiCo, where he most recently served as CEO of the $14.8 billion Frito-Lay North America division since 2011, Greco led PepsiCo’s most profitable operating segment in consistently driving sales and improved operating profits. He previously served as executive VP and chief commercial officer of the Pepsi Beverages Company and held other senior executive roles at the company over the course of three decades. He joined PepsiCo from Procter & Gamble.



“After a thorough search, we are pleased to have found an exceptional leader and operator with a proven track record of designing and executing winning strategies, driving profitable growth, and building an exceptional talent base,” said Advance Auto Part executive chairman Jack Brouillard. “The board is confident that Advance will benefit from Tom’s commercial expertise and energetic, solutions-oriented approach to leading complex, customer-focused operations in a competitive environment.”



In selecting Greco, Advance Auto Parts passed over an executive who joined the company three years earlier in a capacity that suggested he was the logical successor to then CEO Jackson. Sherman joined the company after previously serving as senior VP of Best Buy Services. He had also previously led Home Depot’s installation business and spent 15 years with Target where he last served as a senior VP.



“Advance has made considerable progress on a number of important objectives as we work to deliver improved and more consistent performance,” Sherman said. “I want to welcome Tom (Greco) to our team and look forward to working with him to take advantage of our tremendous opportunity.”