SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Pursuant to Section 13 OR 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) June 6, 2007
(Exact name of registrant as specified in its charter)
(State or other jurisdiction
|(Commission File Number)||(IRS Employer Identification No.)|
123 South Front Street, Memphis, Tennessee
|(Address of principal executive offices)||(Zip Code)|
Registrant's telephone number, including area code: (901) 495-6500
(Former name or former address, if changed since last report)
|Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:|
|[ ]||Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)|
|[ ]||Soliciting material pursuant to Rule 14a-12(b) under the Exchange Act (17 CFR 240.14a-12)|
|[ ]||Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))|
|[ ]||Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))|
Item 8.01 Other Events
On June 6, 2007, AutoZone, Inc. (the Company) issued a press release announcing that its Board of Directors has authorized the repurchase of an additional $500 million of the Company's common stock in connection with its ongoing share repurchase program.
The Company also announced that William C. Rhodes, III, was elected Chairman of the Board. Mr. Rhodes' new title is Chairman, President and Chief Executive Officer. He replaces J.R. Hyde, III as Chairman. Mr. Hyde will remain a member of the Board. The Board also named W. Andrew McKenna as Lead Director.
A copy of the press release is furnished as Exhibit 99.1.
Item 9.01. Financial Statements and Exhibits.
99.1 Press Release dated June 6, 2007.
99.1 Press Release dated June 6, 2007.
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
June 6, 2007
/s/ HARRY L. GOLDSMITH
Harry L. Goldsmith
Executive Vice President, General Counsel and Secretary
|99.1||Press release dated June 6, 2007|
MEMPHIS, Tenn., June 6, 2007 (PRIME NEWSWIRE) -- AutoZone, Inc. (NYSE:AZO) today announced its Board of Directors authorized the repurchase of an additional $500 million of the Company's common stock in connection with its ongoing share repurchase program. Including the above amount, the share repurchase authorization now totals $5.9 billion.
"AutoZone's strong financial performance has allowed us to continue to repurchase our stock while maintaining strong credit metrics," said Bill Giles, Executive Vice President, Chief Financial Officer, Information Technology and Store Development. "We will continue to utilize accretive share repurchases within the bounds of a disciplined capital structure to enhance shareholder returns."
Also today, the Board of Directors elected William C. Rhodes, III as Chairman of the Board. Mr. Rhodes' new title is Chairman, President and Chief Executive Officer. He replaces J.R. Hyde, III as Chairman. Mr. Hyde will remain a member of the Board of Directors.
"Bill Rhodes has been an integral part of our Company's success for many years now, and I, along with the rest of our Board, congratulate him on being elected Chairman," said Mr. Hyde. Mr. Rhodes added, "Not only is Pitt Hyde AutoZone's founder, but he has been a mentor to me and our management team over the years. We look forward to his continued guidance as a member of our Board for many years to come."
In addition, the Board named W. Andrew McKenna as Lead Director. Mr. McKenna has been a Director since 2000.
As of May 5, 2007, AutoZone sells auto and light truck parts, chemicals and accessories through 3,881 AutoZone stores in the United States plus the District of Columbia and Puerto Rico and 110 AutoZone stores in Mexico and also sells the ALLDATA brand automotive diagnostic and repair software. On the web, AutoZone sells diagnostic and repair information and auto and light truck parts through www.autozone.com
CONTACT: AutoZone, Inc. Media: Ray Pohlman (901) 495-7962 email@example.com Financial: Brian Campbell (901) 495-7005 firstname.lastname@example.org