ROCHESTER, N.Y. - Monro, Inc. (NASDAQ: MNRO), a prominent automotive service and tire provider, announced the appointment of Thomas B. Okray to its Board of Directors, effective immediately. Okray, with a wealth of experience in the automotive and industrial sectors, will join the Executive Committee of the Board.
Previously, Okray served as the Executive Vice President and Chief Financial Officer of Eaton (NYSE:ETN) Corporation, a global power management company, from January 2021 to February 2024. His career spans over two decades at General Motors (NYSE:GM), along with senior financial roles at Amazon.com (NASDAQ:AMZN), Inc., Advance Auto Parts (NYSE:AAP), Inc., and W.W. Grainger, Inc. His international experience includes significant leadership positions in Europe and Asia.
Robert E. Mellor, Chair of the Board and Nominating and Corporate Responsibility Committee, expressed confidence in Okray's capabilities, saying, "Consistent with ongoing shareholder dialogue, adding his relevant automotive industry expertise reflects our continued commitment to refreshing and enhancing the skills and experience currently represented on our Board. Tom brings a deep understanding of the dynamics that shape the auto industry, and we look forward to benefitting from his solutions-focused perspectives as we drive value creation for our shareholders."
Okray added, "I've long respected the durability of Monro's business model as well as its commitment to delivering a superior customer experience. I look forward to working closely with the Board and leadership to help the team execute the Company™s growth strategy and further solidify Monro™s leadership position."
With Okray's addition, Monro's Board now comprises nine directors, eight of whom are independent. This move is part of Monro's broader strategy to expand its national presence through strategic acquisitions and the opening of new stores. The company, which generated approximately $1.3 billion in sales in fiscal 2023, operates around 1,300 stores and 9,000 service bays nationwide.
Okray also holds a position on the Board of Directors for Flowserve Corporation (NYSE: NYSE:FLS), where he chairs the Audit Committee.
This news is based on a press release statement from Monro, Inc.
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