O. Temple Sloan, Jr., 76, is our board chair, a position he has held since March 1994.
Mr. Sloan served as chair of General Parts International, Inc. from its founding in 1961 until its sale to Advance Auto Parts, Inc. in January 2014.
He currently serves as chair of Trail Creek Investments, Inc. and Sheser Creek Company, private investment firms.
Mr. Sloan also serves as a director of Golden Corral Corporation, a private restaurant chain.
Mr. Sloan is not a director of any other publicly-traded company.
The board recommends a vote FOR Mr. Sloan given his expertise in real estate, finance, capital markets and strategic transactions, experience as founder, chief executive officer and board chair of one of the largest privately-owned companies in the U.S., knowledge of our operations resulting from serving as a director of our company and its predecessors for more than 30 years and experience serving on the boards of other publicly-traded companies.
Retiring Director - Term Expiring 2015
While Mr. Sloan, an independent director, has served as our board chair since 1994, the board has no policy with respect to the separation of the positions of chair and chief executive officer.
The board believes that this issue is part of the succession planning process and that it is in our best interests for the board to make a determination at such time in the future when Mr. Sloan is no longer a director.