Genuine Parts stock rises after appointing new directors, strategic review

Investing.com -- Genuine Parts Company (NYSE:GPC) stock rose 3.5% after the automotive and industrial parts provider announced the appointment of two new directors and plans to continue its strategic review to enhance shareholder value.

The Atlanta-based company appointed Court Carruthers, former President and CEO of TricorBraun, and Matt Carey, who previously served as EVP of Customer Experience and Chief Information Officer at The Home Depot, to its Board of Directors effective September 4, 2025. These appointments come as part of an ongoing board refreshment program that has reduced the board’s size while adding financial, industry, and operational expertise.

The changes were made in connection with a Cooperation Agreement with Elliott Investment Management, one of GPC’s largest investors. The agreement includes an information-sharing arrangement that will allow for continued dialogue between the activist investor and the company.

"We will continue to evaluate and pursue opportunities that enhance operational performance, improve profitability and unlock shareholder value," said Will Stengel, President and Chief Executive Officer of Genuine Parts Company.

As part of its strategic initiatives, GPC also announced plans to host an Investor Day in 2026. The company noted that two long-serving directors, Robert Charles Loudermilk, Jr. and John R. Holder, who joined the board in 2010 and 2011 respectively, will retire from the Board on September 4, 2025.

The board changes and strategic review follow what the company described as "constructive engagement" with Elliott Management, suggesting the activist investor has been pushing for changes to improve performance and shareholder returns.

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