Advance Auto Parts Names New Board Members at Billionaire Activist Dan Loeb's Behest

AAP said A. Brent Windom, Gregory Smith and Thomas Seboldt will all join its board at the behest of Third Point, which has built up an undisclosed stake in the auto-parts company.

"These directors' automotive-industry and supply-chain experience will help us progress in our plan to return the company to profitable growth," Gene Lee, independent chair of AAP's board, said in announcing the appointment.

"With new management in place, important strategic actions underway and an enhanced board, we are confident that Advance is on the right path to create significant long-term value for shareholders," Lee said.

Loeb -- whose AAP stake only came to light when The Wall Street Journal reported about it shortly before Monday's market close -- said in a statement that "with fresh perspectives in the C-suite and board room and a long runway for growth, we believe Advance is well positioned to create meaningful value for shareholders."

AAP rose 3.7% to a $75.77 close during regular trading Monday, then added another 2.1% to change hands at $77.39 shortly after 5 p.m. ET in after-hours action.