Genuine Parts Company Announces Changes to the Board and Declares Regular Quarterly Dividend

Rhea-AI Summary

Genuine Parts Company (NYSE: GPC) announced significant changes to its Board of Directors and declared its regular quarterly dividend. The company welcomed Laurie Schupmann as a new director, bringing nearly 40 years of experience from PwC where she served as a Global Client Partner until 2023.

Four directors - Gary Fayard, Johnny Johns, Betsy Camp, and Wendy Needham - have stepped down from the board after reaching mandatory retirement age. Paul Donahue, Non-Executive Chairman, expressed gratitude for their service while highlighting Schupmann's financial and accounting expertise as valuable additions to the board.

The company also declared a quarterly cash dividend of $1.03 per share on common stock, payable on July 2, 2025, to shareholders of record as of June 6, 2025.

Positive

• New board member Laurie Schupmann brings 40 years of PwC experience in financial and accounting expertise
• Maintained quarterly dividend of $1.03 per share, indicating financial stability

Negative

• Loss of four experienced board members simultaneously due to mandatory retirement age

ATLANTA, April 29, 2025 /PRNewswire/ -- Genuine Parts Company (NYSE: GPC), a leading global service provider of automotive and industrial replacement parts and value-added solutions, announced that its shareholders elected Ms. Laurie Schupmann as a new director of the company. Additionally, Messrs. Gary Fayard and Johnny Johns and Mses. Betsy Camp and Wendy Needham have each reached the mandatory retirement age for board members and have stepped down from their roles as directors.

Prior to her retirement in 2023, Ms. Schupmann spent nearly 40 years with PwC, an audit and assurance, consulting and tax advisory firm, serving in various leadership roles of increasing responsibility, including as a Global Client Partner from October 1995 to June 2023.

"We want to express our sincere gratitude to Gary, Johnny, Betsy and Wendy for their years of dedicated service, leadership and invaluable contributions to our Board," said Paul Donahue, Non-Executive Chairman. "As they retire, we are also pleased to welcome Laurie to our Board of Directors. Her extensive financial and accounting background, combined with her leadership expertise, makes her a valuable addition to our Board, and we look forward to her future contributions to GPC."

In addition, GPC's Board of Directors declared a regular quarterly cash dividend of one dollar and three cents ($1.03) per share on the company's common stock. The dividend is payable July 2, 2025 to shareholders of record June 6, 2025.

About Genuine Parts Company
Established in 1928, Genuine Parts Company is a leading global service provider of automotive and industrial replacement parts and value-added solutions. Our Automotive Parts Group operates across the U.S., Canada, Mexico, Australasia, France, the U.K., Ireland, Germany, Poland, the Netherlands, Belgium, Spain and Portugal, while our Industrial Parts Group serves customers in the U.S., Canada, Mexico and Australasia. We keep the world moving with a vast network of over 10,700 locations spanning 17 countries supported by more than 63,000 teammates. Learn more at genpt.com. 

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SOURCE Genuine Parts Company

FAQ

What is GPC's quarterly dividend payment for July 2025?

Genuine Parts Company (GPC) declared a quarterly cash dividend of $1.03 per share, payable on July 2, 2025, to shareholders of record as of June 6, 2025.

Who is Laurie Schupmann, the new GPC board director in 2025?

Laurie Schupmann is a former PwC executive with nearly 40 years of experience, who served as Global Client Partner from 1995 to 2023. She was elected as a new director of Genuine Parts Company in April 2025.

How many GPC board members retired in April 2025?

Four GPC board members retired in April 2025 after reaching mandatory retirement age: Gary Fayard, Johnny Johns, Betsy Camp, and Wendy Needham.

When is the record date for GPC's July 2025 dividend?

The record date for GPC's July 2025 dividend payment is June 6, 2025. Shareholders must own the stock by this date to receive the $1.03 per share dividend.

What changes occurred on GPC's Board of Directors in April 2025?

In April 2025, GPC added Laurie Schupmann as a new director while four existing directors - Gary Fayard, Johnny Johns, Betsy Camp, and Wendy Needham - stepped down due to reaching mandatory retirement age.