AutoZone’s Chairman to Resign CEO Post
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AutoZone Inc., the largest U.S. auto-parts retailer, said John Adams has decided to resign as chief executive to spend more time with his family, while staying on as chairman. The company also reported a 6.6% rise in fiscal fourth-quarter profit to $105.2 million, or 84 cents a share, a penny better than estimates, as sales rose 7.2% to $1.49 billion. Adams plans to stay on as CEO until a replacement is chosen. AutoZone closed up 63 cents at $21.75 on the Big Board, before the news was released.
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