Posted on Wed, May. 7, 2008
Jeff Rachor, who stepped down last month as CEO of Pep Boys - Manny, Moe & Jack, is joining forces with Michael Dell's private investment firm to form a luxury car dealership, according to a news release.
Rachor, 49, had been CEO of the Philadelphia-based auto parts and service company for little more than a year.
He said in April that he was planning to return to Tennessee and to his first love, the auto-dealership business.
He had joined Pep Boys in March 2007.
He was one of several top company officials to come and go in the last few years, as the iconic Philadelphia firm has endured poor financial performance and a board shake-up in 2006 led by activist shareholders.
Rachor is teaming up MSD Capital LP, which manages money for Dell, the founder of Dell Inc.
Their joint effort will be called MSD Automotive Partners LLC.
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