MEMPHIS, Tenn.—Louis S. DiPasqua, vice chairman and CEO of TBC Corp., plans to retire Sept. 30. Succeeding him as CEO will be current TBC President and COO Lawrence D. Day, 49, who came to the Memphis firm in 1998 from Monro Muffler Brake Inc., where he was president and CEO.
Mr. Day has "energetic leadership, and we are excited about the potential for TBC under his guidance," said TBC Chairman Marvin Bruce.
Mr. DiPasqua, who will turn 65 in September, originally had planned to step down at the end of 1999, but decided to move up his retirement to give his successor greater flexibility in planning and budgeting for next year.
Mr. DiPasqua joined TBC as president and CEO in 1991 after serving as vice president of replacement tire sales and marketing for Goodyear. Before that he was CEO of the tire maker's Kelly-Springfield Tire Co. division and chairman and managing director of Goodyear Great Britain.
While with TBC, he has guided the company through a series of significant changes that included entry into retail tire sales and service through acquisition of the 436-store Big O Tires chain in 1996.