Joseph Tomarchio is going part time at Monro Muffler Brake Inc., and giving up his title as the company's executive vice president.
In a filing with the U.S. Securities and Exchange Commission, the company said the two parties (Monro and Tomarchio) "mutually agreed" to end Tomarchio's existing employment agreement effective April 1. Tomarchio will continue to work for Monro, on a part-time basis, as a special advisor.
He will "focus primarily on assisting with the company's ongoing acquisition activities," the company said.
Monro indicated Tomarchio's role witht he company was changing when it announced it hired Shawn Denlein as senior vice president of tire merchandising. But at the time the company didn't reveal Tomarchio was going part time.
Tomarchio is the founder of the Baltimore, Md.-based Mr. Tire Chain, which Monro acquired in 2004.