New Leadership at Advance Auto Parts: A Fresh Perspective for Turnaround
In a move to revitalize its business, Advance Auto Parts has appointed Shweta Bhatia as Executive Vice President and Chief Technology Officer. With nearly two decades of retail technology experience under her belt, Bhatia brings a wealth of knowledge to the company.
A Proven Track Record in Retail Tech
Bhatia’s most recent role was Senior Vice President of Technology at discount retailer Dollar General, where she spearheaded a comprehensive IT overhaul. Prior to that, she held leadership positions at Walmart and Kohl’s, demonstrating her ability to drive technological advancements in the retail sector.
A New Era at Advance Auto Parts
Bhatia’s appointment comes at a pivotal moment for the auto parts retailer, which is in the midst of a significant transformation. In November, the company launched a three-year turnaround plan aimed at boosting financial performance. This strategy involves the closure of over 700 underperforming stores, cost-cutting measures, and supply chain optimization.
A Focus on Efficiency and Growth
Advance Auto Parts is banking on Bhatia’s expertise to enhance efficiency and drive growth. Her experience in leading multi-year IT modernization projects, such as the one at Dollar General, will be instrumental in helping the company achieve its goals. According to Shane O’Kelly, President and CEO, Bhatia’s addition to the leadership team will facilitate “decisive actions which will set up Advance for future growth and value creation.”
Challenges Ahead
Advance Auto Parts faces several challenges, including the aftermath of a recent cyberattack that compromised the personal data of over 2.3 million customers. The company’s Q3 2024 results, which saw a 3% year-over-year decline in net new sales, also underscore the need for swift action.
A Fresh Perspective for the Future
With Bhatia at the helm of technology, Advance Auto Parts is poised to embark on a new chapter in its history. Her leadership will be crucial in helping the company navigate the complexities of the retail landscape and emerge stronger, more efficient, and more resilient than ever.
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