Napa Auto Parts 2005 Annual Report Download - page 7

5
Summary of Stock Dividends
Date Amount One Share Became
March 1959 100% 2 shares
April 1962 200% 6 shares
December 1967 50% 9 shares
May 1970 50% 13.5 shares
May 1972 100% 27 shares
April 1979 50% 40.5 shares
April 1984 50% 60.75 shares
May 1987 50% 91.125 shares
April 1992 50% 136.69 shares
April 1997 50% 205.04 shares
At the April 17, 2006 Shareholders’ Meeting, we are asking the
shareholders to elect two new Directors. The GPC Board, at its
scheduled meeting in November 2005, elected Gary W. Rollins and
Jerry W. Nix to serve on our Board and invited them to be nominees
for election by the shareholders. Mr. Rollins is Chief Executive
Officer, President and Chief Operating Officer of Rollins, Inc. in
Atlanta, Georgia. Mr. Nix has served as Executive Vice President-
Finance and Chief Financial Officer of Genuine Parts Company and
with his election to the Board, he was named Vice Chairman. Gary
and Jerry offer us a wealth of knowledge and they are sure to be
valuable members of our Board. We are fortunate to have them
serve with us and we look forward to their contributions in the
coming years.
MANAGEMENT
This year, it is a great honor to recognize the significant contribu-
tions of Larry Prince, who retired from Genuine Parts Company on
March 31, 2005. During Larry’s 46 years with the Company, his sin-
cere interest in the well being of Genuine Parts and its employees,
customers and shareholders was evident throughout his service. As
CEO for 16 years, his impressive leadership was influential in the
growth and success of the Company. Today, Larry remains on our
Board as Chairman of the Executive Committee and we look for-
ward to his continued interest, advice and counsel as we proceed
into the future. We thank you, Larry, for your many contributions
to Genuine Parts Company.
During this past year,there were a number of other management
changes and promotions that we would like to share with you.
In March 2005, Michael D. Orr joined S.P. Richards as Senior Vice
President of Logistics and Operations. Mike has extensive experi-
ence in the logistics area and he is an excellent addition to the
Office Products Group.
In August 2005, Motion Industries promoted Thomas L. Miller to
Executive Vice President and Chief Operating Officer and Robert J.
Summerlin to Executive Vice President of Sales and Marketing.
Tom and Bob have both had long and impressive careers with
Motion and these two promotions give additional depth and
strength to the Motion management team. In their new positions,
Tom and Bob will play key roles in the overall leadership of
Motion Industries in the years ahead. Motion also appointed sev-
eral new Group Vice Presidents as they expanded their U.S. region-
al alignment. Joining David James, Southeast, and Mark Sheehan,
Central, are Tim Breen, Midwest, Jeff Rouse, East, Kevin Storer,
West, and John Walters, Southwest. This group represents a strong
leadership team with a successful track record at Motion and we
look forward to their future contributions.
Within the Automotive Group, Balkamp President, William E. “Gene”
Turnbull, retired in February of this year.Gene has successfully
held several key positions within the Automotive Group over his
35-year career and most recently he has provided outstanding
leadership to the Balkamp organization. We thank Gene for his
many contributions to our Company and we wish him the very
best in his retirement. To replace Gene, Scott W. LeProhon has
been promoted to President of Balkamp. Scott is an 18-year veteran
of the Company and over the years he has held several important
management positions within the Automotive Group. To further
position Balkamp for continued strong performance in the coming
years, Frank C. Amato has been promoted to Executive Vice
President-Operations and Donald T. “Tip” Tollison has been pro-
moted to Executive Vice President-Administration. Both Frank
and Tip are experienced Automotive Group executives and we
are pleased to have them in their new positions.
J. Richard Borman was named President of Rayloc in February
2006. Rick has been with the Company for over 20 years, most
recently as Executive Vice President at Rayloc, and he will provide
good leadership to this organization.
And, finally, we are pleased to tell you that at our February 2006
Board meeting, the Directors elected Scott C. Smith to Senior
Vice President-Corporate Counsel, Carol B. Yancey to Senior Vice
President-Finance and Corporate Secretary and Sidney G. Jones
to Vice President-Investor Relations. All three of these individuals
have been with the Company for a number of years and these
promotions will further strengthen our corporate legal and
financial teams.
CONCLUSION
As we look back over 2005, we are pleased with the progress that
was made throughout our Company and you can read more
about this, by segment, in the pages that follow. We enter 2006
with optimism and enthusiasm and with a commitment through-
out our organization to strive for further improvement
in the year ahead. Our focus, across all of our business segments,
is to maintain our level of revenue growth, further improve our
operating margins, and continue to enhance our asset manage-
ment and working capital efficiencies.
In closing, we want to express our appreciation to our employees,
customers, vendors and shareholders for your commitment to and
ongoing support of Genuine Parts Company.
Respectfully submitted,
Thomas C. Gallagher Jerry W. Nix
Chairman, President and Vice Chairman and
Chief Executive Officer Chief Financial Officer
March 3, 2006
2004
1.20
Dividends Per Share*
in dollars
*Restated to reflect stock splits.
2003
1.18
2002
1.16
2001
1.14
2000
1.10
1999
1.04
1998
1.00
1997
0.96
1996
0.89
2005
1.25