May 30, 2019 – Executive search firm ON Partners has placed Andrew Page as senior vice president, controller and chief accounting officer of Advance Auto Parts in Raleigh, NC.
“I am extremely pleased to have Andrew join the Advance team,” said Jeff Shepherd, executive vice president and chief financial officer. “Andrew’s extensive and diverse finance-related experience combined with his business acumen will be a tremendous addition to our already strong finance organization. I look forward to working closely with Andrew as we continue our efforts to transform Advance and solidify our position as a true industry leader.”
Mr. Page has more than 25 years of broad-based accounting and finance experience. Most recently, he served as senior vice president and chief accounting officer for Under Armour. He joined Under Armour in 2011 as assistant controller. Earlier in his career, Mr. Page served as assistant controller for FTI Consulting, an independent global business advisory firm. His experience also includes senior finance positions at AES Corp., General Electric, Discovery Communications and PricewaterhouseCoopers, among others.
Advance Auto Parts is an automotive aftermarket parts provider that serves both professional installer and do-it-yourself customers. As of December, Advance operated 4,966 stores and 143 Worldpac branches in the U.S., Canada, Puerto Rico and the U.S. Virgin Islands. The company also serves 1,231 independently owned Carquest branded stores across these locations in addition to Mexico, the Bahamas, Turks and Caicos, British Virgin Islands and Pacific Islands.
In his new role, Mr. Page will be responsible for enterprise-wide accounting operations, tax, external financial reporting and all related compliance.
With a primary focus on technology, energy/clean tech, consumer, industrial and the life science sectors, ON Partners recruits C-suite, board directors and senior executive talent for public and private companies, as well as venture capital and private equity firms. The firm’s consultants work from offices in Atlanta, Boston, Chicago, Cleveland, Dallas, Menlo Park, CA, Minneapolis, MN and San Francisco.
Chief Accounting Officers
There are many similarities between chief accounting officers and chief financial officers, such as the responsibility of managing the finances of a business. However, there are important distinctions between these two positions. According to ZipRecruiter, the CAO is in charge of all things within the accounting department of a company, especially the day-to-day operations.
So, what makes the best type of training for this role? “Hands down, public accounting remains the top training ground for finance executives,” said Ken Martin, SVP and partner at search firm WinterWyman. “The exposure to multiple types of businesses and accounting systems makes for an unparalleled career foundation.”
“Typically, CAOs are technically minded and comfortable expressing their opinions and making pronouncements on how accounting standards will impact their organization,” Mr. Martin said, explaining the ideal executives for this role. “Because they oversee reporting and are accounting focused, they are usually more internal facing and hands on than a CFO. They must also be adept at building, evaluating and mentoring teams.”
Contributed by Scott A. Scanlon, Editor-in-Chief; Dale M. Zupsansky, Managing Editor; Stephen Sawicki, Managing Editor; and Andrew W. Mitchell, Managing Editor – Hunt Scanlon Media