Monro (MNRO) said Monday that Peter Fitzsimmons has been named president and chief executive officer, effective immediately.
Fitzsimmons, a partner and managing director of consulting firm AlixPartners, succeeds Michael Broderick, who stepped down after the board determined a leadership change was "necessary."
Fitzsimmons appointment was made as part of a strategic consulting engagement with AlixPartners and its affiliate AP Services, Monro said.
Monro shares were down by more than 6% in recent trading.
Price: 14.96, Change: -0.96, Percent Change: -6.05
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