April 29 (Reuters) - Automotive and industrial

replacement parts provider Genuine Parts' ( GPC ) CEO Paul

Donahue will step down from his position and will assume the

role of executive chairman, the company said in a statement on

Monday.

Its current president and COO William P. Stengel will

succeed Donahue effective June 3.

Stengel, who joined the company in 2019, previously assumed

various executive leadership roles at Home Depot ( HD ),

including president and CEO of its Supply Facilities Maintenance

unit.

Earlier in April, the company raised its 2024 profit

forecast, hinging on strong demand for parts and improving

automotive sales in the United States.