Peter Fitzsimmons
MONROAbout Peter Fitzsimmons
Peter D. Fitzsimmons (age 68) is President and Chief Executive Officer of Monro, appointed effective March 28, 2025; he is provided to Monro by AP Services, LLC (APS), an affiliate of AlixPartners, where he is a Partner and Managing Director . He holds a BA from Harvard College and an MBA from the Tuck School of Business at Dartmouth; his mandate is to lead a performance improvement plan focused on raising operating income and total shareholder returns; Monro generated almost $1.3 billion in sales in fiscal 2024, providing scale for turnaround initiatives . Prior to this appointment, he led or advised complex transformations across auto services and retail, including serving as CEO of a large collision repair business that achieved over 25% sales growth in 2022, and as CFO of an auto parts distributor .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| AlixPartners | Partner & Managing Director | 2020–present | Client-focused turnaround leadership; advisor/executive roles in transformations |
| Tower Three Partners | Investment Partner & Managing Director | 2013–2020 | Operationally oriented private equity; portfolio value creation |
| AlixPartners | Various roles of increasing responsibility | 1995–2013 | Turnaround advisory across industries |
| Large automotive collision repair business | Chief Executive Officer | 2022 | Drove >25% sales improvement in 2022 |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| AlixPartners / AP Services (APS) | Partner & Managing Director; APS provides CEO services to Monro | 2020–present | APS engagement letter supplies Fitzsimmons as CEO to Monro |
Fixed Compensation
| Item | FY2025 Amount / Term | Notes |
|---|---|---|
| Base salary (MNRO) | — | Not eligible for a base salary from Monro under APS engagement |
| Target annual bonus (MNRO) | — | Not eligible for annual incentive from Monro |
| Long-term incentives (MNRO options/RSUs/PSUs) | — | Not eligible to receive Monro LTI |
| Perquisites/other benefits (MNRO) | — | Not eligible to participate in Monro perquisites/benefit programs |
| 401(k) | — | Not eligible to participate in Monro’s 401(k) plan |
| All Other Compensation (reported in SCT) | $17,241 | As disclosed in 2025 Summary Compensation Table |
| Company fee to APS for CEO services | $250,000 per month | Paid by Monro to APS; company states it has no role in determining Fitzsimmons’ compensation from APS |
Performance Compensation
| Incentive Type | Metric(s) | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|---|
| Annual Incentive (MNRO plan) | N/A (Operating Income 70%, Comparable Store Sales 30% used for NEOs generally) | N/A | N/A | N/A | Not eligible under APS engagement | N/A |
| Long-Term Incentives (MNRO LTI) | N/A (Company shifted PSUs to rTSR for FY2025 grants to NEOs) | N/A | N/A | N/A | Not eligible under APS engagement | N/A |
Note: For FY2025, Monro’s annual incentive design for NEOs emphasized operating income (70%) and comparable store sales (30%); no NEO annual cash incentive paid for FY2025 as results were below threshold. Fitzsimmons was not eligible for the plan .
Equity Ownership & Alignment
| Metric | Value |
|---|---|
| Beneficial ownership (common shares) | 0 (— shown in table) |
| Shares acquirable within 60 days (options/RSUs) | 0 |
| Ownership as % of shares outstanding | <1% (denoted “*”) |
| Vested vs unvested shares | None disclosed (no awards) |
| Options (exercisable/unexercisable) | None (no MNRO option awards) |
| Shares pledged as collateral | Prohibited by company policy (no hedging or pledging by directors/officers/employees) |
| Stock ownership guidelines | Not applicable to Fitzsimmons (apply to other NEOs only) |
| Guideline compliance | N/A for Fitzsimmons; others in compliance as of March 29, 2025 |
Employment Terms
| Term | Detail |
|---|---|
| Appointment date | March 28, 2025 (President & CEO) |
| Contract structure | APS Engagement Letter; APS provides Fitzsimmons to serve as CEO |
| Compensation flow | Monro pays APS $250,000/month; company has no role in determining Fitzsimmons’ compensation from APS |
| Term/termination | Engagement may be terminated by either party at any time upon written notice |
| Confidentiality | APS representatives (including Fitzsimmons) prohibited from disclosing Monro confidential information for 3 years after engagement ends |
| Severance/change-in-control (MNRO) | Not an MNRO employment agreement; no severance/COC provisions disclosed for APS engagement |
| Clawback/hedging/pledging | Company maintains a clawback policy and prohibits hedging/pledging by insiders |
| Perquisites/benefits | Not eligible for Monro perquisites or benefit programs |
Investment Implications
- Alignment and insider-sell pressure: Fitzsimmons holds no Monro equity and is ineligible for MNRO annual or long-term incentive plans, reducing direct equity alignment and implying minimal insider selling pressure near term .
- Retention and continuity risk: The APS engagement is terminable at any time by either party and lacks MNRO severance/change-in-control protections, which increases leadership continuity risk during a turnaround, albeit with flexibility for the Board .
- Pay-for-performance architecture around him: While the CEO is not in MNRO’s comp plans, the broader executive incentive design emphasizes operating income and comparable store sales annually and rTSR for PSUs, aligning the management bench with profitability and shareholder returns during his tenure .
- Governance mitigants: Company policy prohibits hedging/pledging and maintains a clawback, reducing key compensation-related red flags; stock ownership guidelines do not apply to Fitzsimmons given the APS arrangement .
- Track record signal: Prior leadership of a collision repair business with >25% sales improvement in 2022, plus extensive turnaround experience at AlixPartners/Tower Three, supports execution credibility for Monro’s performance improvement plan focused on operating income and TSR .