Replacement Parts, Inc., an Arkansas based auto parts chain has announced several management changes at its company-wide meeting in Branson, Missouri.
Fletcher Lord, Jr. shared the news with other company managers during the conference’s opening session. The changes are:
•Fletcher Lord, Jr., President / CEO, moved into the role of chairman of Replacement Parts, Inc.
•Bill Schlatterer, executive vice president / Chief Operations Officer became president / CEO
•Fletcher Lord III, Northern Region Sales Manager, was promoted to vice president
The company’s Board of Directors announced the retirement of Director Edward Penick after 40 years of service. Penick is the retired Chairman of Worthen Bank and Trust Company, which was the largest banking company in Arkansas at the time of Penick’s chairmanship. Today it is part of Bank of America.
Robert Raff, Jr. was elected to fill the board seat vacated by Mr. Penick. He is the son of Bob Raff, former president of Parts Warehouse, Inc., who served AWDA as Chairman and was honored as Leader of the Year in 1993. Robert Raff, Jr. is currently president of Stanley Black & Decker.
Replacement Parts, Inc. traces its roots to Crow-Burlingame Company, founded in 1919 by W.R. Crow, grandfather of Fletcher Lord, Jr. and his brother Bobby Lord, along with his partner J.G. Burlingame. The pair later also formed Parts Warehouse, Inc. and today, both Crow-Burlingame Co. and PWI are subsidiaries of Replacement Parts, Inc.
In his comments at the meeting in Branson, Mr. Lord stated, “This doesn’t mean that I’m sailing off into the sunset and won’t be around much anymore. It is more a reflection of the roles currently in place at RPI. Bill Schlatterer has been functioning as the company president for the past several years and has now been given that title.”
Mr. Lord is also a former Chairman of AWDA and was honored as AWDA Leader of the Year in 2009.
Fletcher Lord, III, in his new role as vice president of RPI, marks the entry of the fourth generation of the Crow family in the leadership of the company. “My brother Bobby and I know that not many people are fortunate enough to have a company that has been in existence for nearly 100 years and still be looking forward to the next generation of family involvement,” Lord, Jr. stated. “We both feel blessed to have our families joining us in the business.”