Pep Boys chief financial officer steps down

Posted: June 19, 2012

Pep Boys — Manny, Moe & Jack, the Philadelphia automotive parts retailer and repair chain, announced the resignation Monday of chief financial officer Ray Arthur, who is leaving June 29 "to pursue another business opportunity."

The news follows the company's aborted merger with Gores Group L.L.C., a proposed $793 million deal that was terminated in late May after the private equity firm complained about Pep Boys' financial performance. Pep Boys said it would launch a national search for Arthur's replacement.

– Maria Panaritis

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