Genuine Parts Company, a distributor of automotive and industrial parts, announced a settlement with activist investor Elliott Investment Management.
Settlement with Elliott Investment Management
Genuine Parts Company has reached a settlement with Elliott Investment Management after the latter acquired over $1 billion in shares. Announced on September 4, 2025, this agreement has made Elliott the largest active shareholder in the company, valued at approximately $19 billion.
New Appointments to the Board
The settlement includes the appointment of two new directors with expertise in industrial distribution and technology. They are Courtney Carruthers, former president and CEO of TricorBraun, and Matt Carey, former chief information officer at Home Depot. These appointments will replace retiring directors while maintaining the board size at 12.
Genuine Parts Company Stock Performance
Following the settlement announcement, Genuine Parts’ stock climbed by 2%. As of midday September 4, 2025, shares were trading at $141.13, reflecting a 3.57% gain from the previous close. The shares have increased nearly 20% over the past several months.
The agreement with Elliott aims to enhance the company's operational performance, which may lead to an increase in shareholder value and improve its market position.
