AutoZone names PepsiCo exec to its board

MEMPHIS, Tenn. -- AutoZone Inc. said Thursday that it elected PepsiCo executive Enderson Guimaraes to its board.

Guimaraes became CEO of PepsiCo Europe last month and is responsible for the company's food and beverage businesses in continental Europe as well as the United Kingdom and sub-Sahara Africa, the Memphis, Tenn.-based auto parts retailer said.

In addition, AutoZone said two of its current board members, William Crowley and Robert Grusky, will not stand for re-election at the company's annual shareholder meeting in December.

The board has nominated the remaining eight incumbent directors, including Guimaraes, for election at the meeting, AutoZone said.

AutoZone's stock rose $2.08 to $371.55 in midday trading.