Replacement Parts Inc. has named Fletcher Lord Jr. chairman of the company. He previously was president and chief executive officer.
Replacing Lord as president and chief executive officer is Bill Schlatterer. He moves into the role from executive vice president / chief operations officer. Fletcher Lord III was promoted to vice president. He formerly served as northern region sales manager.
The company’s board of directors announced the retirement of 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 Mr. Penick’s chairmanship. Today it is part of Bank of America.
Robert Raff Jr. was elected to fill the board seat vacated by Penick. Raff is 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.
Replacement Parts Inc., headquartered in Little Rock, Arkansas, is a Bumper to Bumper shareholder in the Aftermarket Auto Parts Alliance (The Alliance) with 156 company stores and 180 independent affiliates operating in eight states.