Back in mid-November, Genuine Parts Company announced that Motion Industries' Chairman Bill Stevens gave notice of his March 1 retirement. That means Stevens is currently in his final week of leading the company after a 37-year career with it.
But the MRO parts distributor, and No. 9 on Industrial Distribution's 2014 Big 50 List, appears to be in good hands as Tim Breen is set to take over after working closely with Stevens over the past two years to ensure a smooth transition. Breen was named president and chief operating officer in 2013, and then president and chief operating officer in 2014.
Industrial Distribution featured Stevens and Motion Industries for its Distributor Profile in its 2012 July/August print issue. The article can be viewed online here, as well as the magazine version here.
Tom Gallagher, Chairman and CEO of Motion's parent, Genuine Parts Company, commented, "Bill was the CEO at Motion Industries for 18 years, and Motion has grown to become one of the leading industrial distribution companies in North America, largely attributable to his leadership. We wish him the very best in his retirement. We are also excited to have Tim Breen in the role of President and CEO. Tim's proven leadership and tremendous industry experience make him the right person to lead Motion to further success in the years ahead."
Stevens was named President and COO before becoming President and CEO in 1997. With Mr. Stevens at the helm, Motion Industries' sales grew from $1.85 billion in 1997 to $4.8 billion in 2014. In his tenure, Motion made 38 acquisitions. He was named 1997 and 2006 Genuine Parts Company Manager of the Year, and received the 2014 Bearing Specialists Association Lifetime Achievement Award.
So far in 2015, Motion Industries has acquired Florida-based Miller Bearings, acquired Alaska-based Oil & Gas Supply, and just last week reported a 2014 fourth quarter year-over-year sales increase of 10 percent.