(RTTNews) - Monro, Inc. (MNRO), a provider of automotive undercar repair and tire services, announced Monday the appointment of Peter Fitzsimmons, Partner and Managing Director of AlixPartners, as President and Chief Executive Officer, effective immediately.
Michael Broderick has departed the Company as President and CEO following the Board's determination that a change in leadership is necessary.
Fitzsimmons' mandate is to work with the management team and Board to develop and execute a performance improvement plan to enhance operations, drive profitability, and increase operating income and total shareholder returns.
During his career, Fitzsimmons has served in senior executive roles, includes serving as CEO of a large automotive collision repair business, and as CFO of an auto parts distributor.
Fitzsimmons has been appointed as President and CEO in connection with, and as part of a strategic consulting engagement with AlixPartners, LLP and its affiliate AP Services, LLC.
Fitzsimmons rejoined AlixPartners in 2020 after spending seven years with Tower Three Partners, an operationally-oriented private equity firm. Fitzsimmons first joined AlixPartners in 1995, and during his career with the firm has served as an advisor, CEO and CFO to clients undertaking significant transformations.
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