Pep Boys–Manny, Moe & Jack announced the resignation of Mike Odell, CEO and president. Director John Sweetwood was named interim CEO, effective immediately.
Sweetwood has served on the Pep Boys’ board of directors since 2002 and is currently president of Woods Investment LLC, a private real estate investment firm. He formerly served as president of the Americas Six Continents Hotels (currently Intercontinental Hotel Group) that operates hotels under the InterContinental, Crown Plaza, Holiday Inn and other brands.
In a press release issued by the company, Sweetwood said he looks forward to “working with management and Pep Boys 18,000-plus associates in successfully executing Pep Boys’ Road Ahead strategy.”
Odell joined Pep Boys in September 2007 as executive vice president and chief operating officer after spending 13 years at Sears Holdings Corp. He became CEO in 2008.
Pep Boys posted a net loss of $273,000 on net sales of $525.8 million for the second quarter ended Aug. 2, 2014.
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