Pep Boys Names Interim CEO

Philadelphia Pep Boys announced Wednesday it has named current COO Mike Odell as the automotive parts company’s interim chief executive effective immediately. Odell, 45, replaces Jeff Rachor who resigned to become a principal in an automotive dealership venture, the company said. A former Sears Holdings Corp. executive, Odell is considered a "serious candidate" for the permanent chief executive position, according to the company, which also said it has no plans to conduct a search at this time.

Pep Boys also announced that Ray Arthur, 49, will join the company on Monday as its executive VP and CFO.