The Auto Channel
The Largest Independent Automotive Research Resource
The Largest Independent Automotive Research Resource
Official Website of the New Car Buyer

Pep Boys Holds Annual Meeting

PHILADELPHIA--The Pep Boys – Manny, Moe & Jack , the nation's leading automotive aftermarket service and retail chain, today held its Annual Meeting of Shareholders in Philadelphia.

At the Annual Meeting, shareholders elected the full Board of Directors, consisting of incumbent Directors Shân Atkins, Bob Hotz, Jim Mitarotonda, Mike Odell, Irv Reid, Jane Scaccetti, John Sweetwood, Nick White and Jim Williams, plus new nominee Max Lukens. Shareholders also approved the appointment of the Company’s independent registered public accounting firm and amendments to the Company’s Stock Incentive Plan and Annual Bonus Plan. Shareholders voted down a shareholder proposal regarding reincorporating the Company in North Dakota. In addition, CEO Mike Odell discussed the Company’s vision, strategy and current initiatives.

Immediately following the Annual Meeting, the Board of Directors appointed Mr. Lukens chairman of the Board. Mr. Lukens previously served on Pep Boys’ Board of Directors from August 2006 until October 2007, when he resigned for personal reasons. He was the president and chief executive officer of Stewart & Stevenson Services, Inc., a company primarily engaged in the design, manufacture and service of military tactical vehicles, from March 2004 until May 2006, when the company was sold. At Stewart & Stevenson, he also served as interim chief executive officer and president from September 2003 until March 2004, and as chairman of the board from December 2002 to March 2004. From 1981 until January 2000, Mr. Lukens worked for Baker Hughes Incorporated, an oilfield services company, in a number of capacities, including chairman of the board, president and chief executive officer. Mr. Lukens currently serves as a director on the boards of NCI Building Systems Inc. and Westlake Chemical Corporation.

Outgoing Chairman James A. Mitarotonda, who continues his service as a director, commented, “We are excited by the opportunity to have Max rejoin and lead the Board. He understands Pep Boys’ business and its opportunities and is a significant shareholder. His experience running companies and chairing boards will upgrade our Board capabilities and will assist the Board in operating more effectively to appropriately support and challenge our senior management team as we pursue our strategic objectives.”