Genuine Parts Company announces quarterly dividend, officer changes

A payout of 36 and a half cents ($.365) per share on the common stock awaits shareholders in the Genuine Parts Company, which recently announced its regular quarterly cash dividend. The dividend is payable Oct. 1 to all shareholders on record as of Sept. 7.

The company also announced two new corporate officers. Paul D. Donahue was elected to serve as the executive vice president for the company's board of directors. Donahue previously served as president and chief operating officer for the company's office products subsidiary, S.P. Richards. In his new role, Donahue will have responsibility for several of the company's business units and sales initiatives.

In addition, the board elected Charles A. Chesnutt to serve as senior vice president of Technology and Process Improvement. Prior to this election, Chesnutt served as the chief financial officer for EIS, the company's electrical distribution subsidiary. As senior vice president at GPC, Chesnutt will lead the corporate wide information technology and telecommunications efforts, as well as process improvement initiatives across the company.

Tom Gallagher, chairman, president and chief executive officer of Genuine Parts Company, states: "Both Paul and Charlie have made a major impact in their respective leadership roles at S.P. Richards and EIS. The addition of these two talented business executives to the headquarters team will serve the company very well. We look forward to their future contributions."

For more information about these corporate changes, visit the Genuine Parts Company's Web site.