Pep Boys names Hertz veteran new CEO
The Pep Boys – Manny, Moe & Jack has a new CEO. Scott Sider, who most recently served as group president of Hertz Corp.'s Rent a Car Americas division, has been appointed CEO and a member of the Pep Boys board of directors.
Sider replaces Mike Odell, who resigned as CEO in September 2014 and was replaced by an interim CEO, John Sweetwood. Sweetwood will resume his position as an independent member of the Pep Boys board.
According to a press release from Pep Boys, Sider, 54, joined Hertz in 1983. He assumed many leadership positions of increasing responsibility during his tenure, including area manager Manhattan, divisional vice president western region and president of off airport operations. As group president of the Rent A Car Americas he led the corporation's largest division, a multi-billion dollar business with more than 3,200 locations and 16,000 employees.
Bob Hotz, chairman of the Pep Boys board says, “We are extremely pleased that our comprehensive search has led us to Scott, a proven leader with automotive service and retail experience. The board of directors was unanimous in its selection of Scott and sincerely thanks John for his service as interim CEO.”
Mr. Sider said, “My experiences at Hertz, which have provided me with an appreciation of customer satisfaction through differentiation, a deep understanding of vehicle maintenance and the need for continual process improvement, combined with Pep Boys’ iconic brand makes this a very exciting opportunity for me. I look forward to leading all the Pep Boys associates as we accelerate our sales and profit improvement.”
Sales and profit have been an issue at Pep Boys, and just last week the company avoided a proxy fight with its largest shareholder after the investor alleged the company needed new direction and improved focus. “We believe that the board could be improved by the addition of directors who have strong, relevant backgrounds and who are committed to fully exploring all opportunities to unlock shareholder value," the investor, GAMCO Asset Management Inc., said in a SEC filing.
For more information visit www.pepboys.com.