By Adriano Marchese
Monro parted ways with its chief executive of four years, Michael Broderick, and appointed Peter Fitzsimmons to the head role as the company looks to revitalize its operations.
The Fairport, N.Y., auto-service chain said Monday that it has appointed Fitzsimmons to head the company, effective immediately.
Robert Mellor, the company's chairman, said the decision was made to improve performance and enhance value for shareholders over the long term.
In January, Monro posted a drop in fiscal third-quarter earnings and sales, and warned of weather-related weakness at the beginning of the year.
"The board determined that a change in leadership was necessary, and we are pleased to appoint Peter to lead this critical phase in our evolution, and our next chapter of growth," Mellor said.
Peter Fitzsimmons is a partner and managing director of consulting firm AlixPartners. He has previously served in senior executive roles at companies undertaking steps to improve operations and financial performance, including as CEO of a large automotive collision-repair business, and as chief financial officer of an auto-parts distributor.
Fitzsimmons is expected to develop a performance-improvement plan to enhance operations, drive profitability and increase operating income and shareholder returns.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
March 31, 2025 08:20 ET (12:20 GMT)
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