8-K filed June 26, 2023, 7:59 PM ET ticker AZO CIK 0000866787

leadership confidence high sentiment neutral materiality 0.65

AutoZone CEO Bill Rhodes to step down Jan 2024; Philip Daniele named CEO-Elect

AUTOZONE INC

William Rhodes to relinquish roles as President & CEO effective Jan 2024, become Executive Chairman.
Philip Daniele, EVP Merchandising, appointed CEO-Elect immediately, to become CEO in Jan 2024 and join Board.
Daniele's base salary will increase to $1M, bonus target 130%, and long-term equity grant of $7.2M stock options.
Rhodes served as CEO for 18+ years; under his leadership revenues tripled to $17B, store count doubled.
Succession plan described as disciplined, with Daniele as 29-year company veteran across multiple functions.

item 5.02 item 8.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Role change

William C. Rhodes, III

Executive Chairman

AZO · AUTOZONE INC

Effective: 2024-01-01
Successor: Philip B. Daniele, III
Filed: June 26, 2023, 7:59 PM ET

The Board intends to appoint Mr. Rhodes to the role of Executive Chairman at such time.

Appointed

Philip B. Daniele, III

CEO-Elect

AZO · AUTOZONE INC

Effective: 2023-06-24
Filed: June 26, 2023, 7:59 PM ET

Also on June 24, 2023, the Board appointed Philip B. Daniele, III to the additional role of CEO-Elect, effective immediately.

Appointed

Philip B. Daniele, III

Chief Executive Officer

AZO · AUTOZONE INC

Effective: 2024-01-01
Filed: June 26, 2023, 7:59 PM ET

The Board intends to appoint Mr. Daniele to the role of Chief Executive Officer

Appointed

Philip B. Daniele, III

Director

AZO · AUTOZONE INC

Effective: 2024-01-01
Filed: June 26, 2023, 7:59 PM ET

The Board intends to appoint Mr. Daniele to the role of Chief Executive Officer and also appoint Mr. Daniele to serve on the Board of Directors, concurrent with Mr. Rhodes’ transition to the role of Executive Chairman in January 2024.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

William C. Rhodes, III was appointed as Executive Chairman at AUTOZONE INC.

Action: appointed
Role: Executive Chairman

Exact text from the filing

The Board intends to appoint Mr. Rhodes to the role of Executive Chairman at such time.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Philip B. Daniele, III was appointed as CEO-Elect at AUTOZONE INC.

Action: appointed
Role: CEO-Elect

Exact text from the filing

Also on June 24, 2023, the Board appointed Philip B. Daniele, III to the additional role of CEO-Elect, effective immediately.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.9

Philip B. Daniele, III was appointed as Chief Executive Officer at AUTOZONE INC.

Action: appointed
Role: Chief Executive Officer

Exact text from the filing

The Board intends to appoint Mr. Daniele to the role of Chief Executive Officer

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.9

Philip B. Daniele, III was appointed as Director at AUTOZONE INC.

Action: appointed
Role: Director

Exact text from the filing

The Board intends to appoint Mr. Daniele to the role of Chief Executive Officer and also appoint Mr. Daniele to serve on the Board of Directors, concurrent with Mr. Rhodes’ transition to the role of Executive Chairman in January 2024.

View on SEC.gov

AUTOZONE INC filing history →

Source: SEC EDGAR

accession 0001171843-23-004120

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