On May 25, 2007, Advance Auto Parts, Inc. (“Company”), announced the appointment of Elwyn G. Murray III as Executive Vice President, Merchandising, Supply Chain, and Technology, effective immediately. Mr. Murray has served as the Company’s Executive Vice President, Administration since April 2005. Before joining the Company, he served in a variety of positions with Food Lion, LLC, including Senior Vice President of Store Operations from May 2002 to January 2005, Senior Vice President of Procurement, Distribution and Quality Assurance from January 2001 to April 2002, Vice President of Procurement and Pricing from July 1999 to December 2000, and Vice President of Marketing from December 1998 to June 1999.
On May 25, 2007, the Company announced that David B. Mueller, a named executive officer, had resigned as Executive Vice President, Merchandising and Marketing, effective immediately.
Mr. Mueller will receive severance benefits consistent with the provisions of his employment agreement with the Company. The terms of the agreement were described in the Company’s 2007 Proxy Statement, filed with the U.S. Securities and Exchange Commission on April 11, 2007, and the form of agreement was filed as an exhibit to a Form 8-K that was filed April 6, 2006. The Company has also agreed to provide Mr. Mueller with certain additional benefits, including outplacement services, with an approximate value of $16,000.
Item 7.01 Regulation FD Disclosure.
On May 25, 2007, the Company issued a press release announcing the appointment of Elwyn G. Murray III as Executive Vice President, Merchandising, Supply Chain, and Technology, effective immediately, and the resignation of David B. Mueller as Executive Vice President, Merchandising and Marketing, effective immediately. The press release is attached as Exhibit 99.1 and incorporated by reference herein.
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