Genuine Parts Plans Business Split and AIG Announces New Board Chair

Key Facts

1Genuine Parts Company is preparing to separate its automotive and industrial businesses in the first quarter of 2027.

2AIG announced John Rice as the new chair, replacing Peter Zaffino who stepped down from his executive chair and board positions.

Genuine Parts Company is preparing to separate its automotive and industrial businesses in the first quarter of 2027, AD HOC NEWS reported. The company stated that the automotive business will retain the Genuine Parts Company name while the industrial segment will operate as Motion, with Court Carruthers appointed as CEO-elect. Separately, AIG announced the appointment of John Rice as its new board chair, succeeding Peter Zaffino who stepped down from his executive and board roles.

GPC closed at $129.61 on September 25, 2026, and was trading at $128.43 on September 28, 2026, during NYSE session hours. Shares of AIG closed at $74.17 on September 25, 2026, having reached a day high of $74.85 and a low of $73.95 during that session. The restructuring at Genuine Parts remains subject to final board approval and customary closing conditions, including the effectiveness of registration filings.