Monro Names Its Next CEO: Michael Broderick
Monro Inc. has named an automotive industry veteran as its new CEO and president. Michael Broderick will take on the top role at Monro, the nation's third-largest independent tire dealership, on April 5.
Broderick arrives at Monro with more than 25 years of experience in the aftermarket parts and tire service industry. He most recently served as executive vice president of merchandising and store operations support at Advance Auto Parts. There, Monro says, Broderick "played a critical role in driving same-store sales growth and operational improvements."
Robert Mellor, who has served as interim CEO since August 2020, will continue in his role as Monro’s board chairman.
Mellor said, “Mike is uniquely qualified to lead Monro through the next phase of our transformation as we continue to build a strong, scalable platform for sustainable growth. He has a proven track record of delivering superior performance at large, complex organizations, driving profitable growth through technology-driven strategies, and fostering an inclusive work environment. We are pleased to welcome Mike to Monro and look forward to his leadership, honed by his decades of executive and operational experience in the automotive aftermarket industry.”
Prior to joining Advance Auto Parts, Broderick served as senior vice president of the automotive division at Canadian Tire Corp. There, he "developed and executed strategies to accelerate the growth of the company's most profitable business, including driving record financial performance."
At Canadian Tire he was also responsible for improving customer service standards across 493 dealerships, with 5,800 service bays.
And before his time at Canadian Tire, Broderick was CEO of Federal Mogul Corp., president of General Parts Co. He started his career at AutoZone, and spent 16 years moving up the ranks, including serving as vice president for the company's northeast division.
“I am thrilled to join this impressive and experienced leadership team, and look forward to building upon the company’s Monro.Forward strategy to unlock its full potential,” said Broderick. “With strong cash flow and a solid balance sheet, Monro is well positioned to execute its transformational initiatives and capitalize on attractive acquisition opportunities to drive sustainable growth. This is an exciting time to join Monro, which has grown into a leading U.S. automotive service and tire company with coast-to-coast presence and a solid foundation to create long-term value for all stakeholders.”
Broderick will come to Monro as the company continues its acquisition efforts, and has recently significantly expanded its reach in California with the purchase of 30 Mountain View Tire stores, plus 17 stores from Allen Tire Co.