Genuine Parts Company (GPC) will separate its Industrial business, to be named Motion, from its Automotive business. The transaction will create two independent, publicly traded companies. GPC expects to complete the separation in the first quarter of 2027. The move aims to unlock shareholder value by allowing each company to focus on specific market growth.
Current GPC Chairman and CEO Will Stengel will transition to lead the newly independent Motion as its Chairman and CEO.
The automotive business will retain the Genuine Parts Company name. GPC Board member Court Carruthers will serve as CEO-elect for the automotive company. Jean-Jacques Lafont will assume the role of Non-Executive Chairman of the automotive board.