AtoZone is the largest retailer of aftermarket automotive parts and accessories in the United States, with over 7,000 stores across the country and in Mexico, Puerto Rico, Brazil, and the US Virgin Islands. The company was founded in 1979 as Auto Shack, a division of a wholesale grocer, and changed its name to AutoZone in 1987.
Who owns AutoZone today?
As a publicly traded company, AutoZone is owned by its shareholders, who buy and sell its shares on the New York Stock Exchange under the ticker symbol AZO. The top five institutional shareholders of AutoZone are:
ESL Investments, a hedge fund run by billionaire Eddie Lampert, has a 16.5% stake.
The Vanguard Group is a mutual fund giant with a 9.8% stake.
BlackRock is another mutual fund powerhouse with a 6.4% stake.
State Street Corporation, a financial services firm with a 4.2% stake
JPMorgan Chase & Co., a global banking and investment company with a 3.6% stake.
These five institutions collectively own about 40.5% of AutoZone’s outstanding shares, which means they have a significant influence on the company’s decisions and performance. However, they are not the only ones who have a say in AutoZone’s affairs. The company also has a board of directors, which is elected by the shareholders and oversees the management of the company. The board consists of nine members, including the CEO and president of AutoZone, Philip B. Daniele, III, who joined the company in 1994 and assumed his current role in 2024.
See also: AutoZone: A Comprehensive Guide to Automotive Excellence
The other board members are:
Michael George, the former president and CEO of Qurate Retail, the parent company of QVC,
Linda A. Goodspeed is the former COO and managing partner of WealthStrategies Financial Advisors.
Earl G. Graves, Jr., is the president and CEO of Black Enterprise, a media company focused on African American business.
Enderson Guimaraes, the former COO of PepsiCo Europe.
W. Andrew McKenna, the chairman emeritus of McDonald’s Corporation.
William C. Rhodes, III, is the chairman of AutoZone and the former CEO and president of the company.
Luis P. Nieto, Jr., the former president of Kraft Foods’ cheese and dairy division.
Gale V. King, the former executive vice president and chief administrative officer of Nationwide Insurance.
The board of directors is responsible for setting the strategic direction of AutoZone, appointing and evaluating the senior executives, overseeing the financial and ethical conduct of the company, and ensuring the interests of the shareholders are protected. The board also has four committees that deal with specific aspects of governance, such as audit, compensation, executive, and nominating and governance.
Conclusion
In conclusion, AutoZone is owned by a diverse group of shareholders, who elect a board of directors to represent them and oversee the management of the company. The company’s leadership team, led by CEO and president Philip B. Daniele, III, is in charge of executing the company’s vision and mission, which is to provide the best parts, prices, and customer service in the automotive aftermarket industry.