Genuine Parts Company named Court Carruthers CEO-elect with an annual base salary of $1,000,000, while Will Stengel remains chairman and CEO until the planned separation closes. The transition establishes Leadership for Global Automotive and Global Industrial, with separate investor days planned for December 8 and December 9, 2026.

Key Highlights

  • Court Carruthers became CEO-elect effective September 8, 2026, with a $1,000,000 annual base salary.
  • Bert Nappier’s base salary rises to $800,000 alongside his appointment as chief operating officer.
  • James Howe receives a $750,000 base salary as president and chief operating officer of Motion.

Genuine Parts Company (NYSE: GPC) appointed Court Carruthers CEO-elect at an annual base salary of $1,000,000, effective September 8, 2026.

Carruthers Compensation and CEO Appointment

Sign-on restricted stock unit grants carry a grant date value of $4,000,000 each. Upon assuming the chief executive role at the Closing, his base salary will rise to $1,200,000, the Bonus target will remain 150%, and the long-term incentive target will increase to $7,200,000.

Operating Leadership Appointments

Bert Nappier, already executive vice president and chief financial officer, also became chief operating officer effective September 6, 2026. His base salary was increased to $800,000, his 2026 bonus target to 100% of base salary, and his 2027 long-term Equity incentive target was set at $2,500,000. James Howe became president and chief operating officer of Motion on the same effective date, with a $750,000 base salary, a 2026 bonus target of 100%, and a 2027 long-term incentive target of $2,300,000. The planned separation remains subject to uncertainty over its timing and whether required closing conditions are satisfied.