Advance Auto Parts Inc., under activist investor pressure to increase profits, hired 30-year PepsiCo Inc. veteran Thomas Greco as its CEO in April 2016. Greco’s top priorities are completing the integration of Carquest, an automotive parts distribution network that Advanced Auto acquired in 2013 in an all-cash transaction estimated at $2.0 billion; enhancing the supply chain and moving Advance from a centralized organizational and decision-making structure to a decentralized one. As of 2016, Advance operated 5,171 stores and 122 Worldpac branches and served about 1,300 independently owned Carquest branded stores in the United States, Puerto Rico, the U.S. Virgin Islands and Canada. Advance has about 73,000 employees.
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