Genuine Parts Company announced that Paul D. Donahue will transition from CEO to executive chairman, effective June 3, 2024. At that time, William P. Stengel, II, currently president and COO, will succeed Mr. Donahue as CEO of the company. Mr. Stengel joined the company in 2019 as executive vice president and chief transformation officer with nearly two decades of significant leadership and professional experience.

In 2021, he was promoted to serve as only the eighth president in the company's history. His role expanded to president and chief operating officer in 2023. Prior to joining the company, he served in various executive leadership roles at HD Supply, including as president and CEO of HD Supply Facilities Maintenance, as well as at The Home Depot and in various investment banking roles.