ROCHESTER, N.Y. — Monro Inc. has hired Advance Auto Parts executive Michael Broderick to be its president and CEO, filling positions left vacant by the August 2020 resignation of Brett Ponton.
Mr. Broderick brings over 25 years of experience executing growth and business transformation strategies in the aftermarket parts and tire service industry. Most recently he was executive vice president of merchandising and store operations support at Advance Auto Parts, where he was involved in that company's drive to raise same-store sales and improve operations.
He assumes the new position April 5, Monro said.
Monro Chairman and interim CEO Robert Mellor said Mr. Broderick is "uniquely qualified to lead Monro through the next phase of our transformation as we continue to build a strong, scalable platform for sustainable growth.
"He has a proven track record of delivering superior performance at large, complex organizations, driving profitable growth through technology-driven strategies and fostering an inclusive work environment."
Mr. Broderick said he is looking forward "to building upon the company's Monro.Forward strategy to unlock its full potential.
"With strong cash flow and a solid balance sheet, Monro is well positioned to execute its transformational initiatives and capitalize on attractive acquisition opportunities to drive sustainable growth. This is an exciting time to join Monro, which has grown into a leading U.S. automotive service and tire company with coast-to-coast presence and a solid foundation to create long-term value for all stakeholders."
Mr. Ponton, president and CEO of Monro from October 2017 through August 2020, left Monro to become CEO of ServiceMaster Global Holdings Inc., the provider of pest control, cleaning and restoration services. At that time, Monro named Mr. Mellor interim CEO.
During his four-plus years at Advance Auto Parts, Mr. Broderick also played a key role in that firm's diversity and inclusion efforts focused on promoting women's leadership in the automotive aftermarket industry.
Prior to joining Advance Auto Parts, Mr. Broderick was senior vice president of the Automotive division for two years at Canadian Tire Corp., where he developed and executed strategies to accelerate the growth of the company's most profitable business, Monro said.
Prior to that, he was CEO of Federal Mogul Corp. for one year and President at General Parts/Car Quest for three years. He began his automotive aftermarket career at AutoZone, where he worked for 16 years in multiple field and operations roles.