Ex-Hertz Boss Is New Pep Boys CEO
Pep Boys: Manny, Moe & Jack, the Philadelphia auto-parts and repair chain with 800 stores and service centers, says it has hired Scott P. Sider as its new CEO.
Before joining Pep Boys, Sider worked at car-rental giant Hertz Corp. for more than 30 years, rising to group president. Sider was paid $4.9 million in stock and cash in Hertz’s fiscal 2013, the last year disclosed.
Pep Boys had been looking for a new boss to simplify operations as it leans more toward auto service from its past focus on store sales and incremental market acquisitions. With Sider’s arrival, interim CEO John Sweetwood steps down from day-to-day management and returns to the board. The previous CEO, Michael R. Odell, left last year amid disappointing profits and failed attempts to sell Pep Boys to private-equity investors.
“We are extremely pleased that our comprehensive search has led us to Scott, a proven leader with automotive service and retail experience,” board chairman Bob Hotz said in a statement, adding that the vote was unanimous.
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