Honoree: David Meniane
Chief Financial Officer
Since March 2019, David Meniane has served as CarParts.com’s chief operating officer and chief financial officer. Under his leadership, the company has undergone a comprehensive operational turnaround with record financial growth. He has become a recognized leader in e-commerce, having led the transformation of CarParts.com at the organizational, logistical and financial levels.
Throughout 2020 and 2021, CarParts.com showed exceptional, double-digit, profitable growth with $53 million of gross profit in Q2 alone and a market cap that has grown 26.6 times to $900 million. In total, Meniane hired more than 800 people in 2020 and 2021, and the firm now has over 1,000 employees globally, despite the country’s high unemployment rates.
With over a decade of experience in consumer packaged goods and retail execution, Meniane has strategically navigated the many setbacks the pandemic posed and spun them to be valuable opportunities that have since raised CarParts.com to be a leader in the auto e-commerce space.
In order to transfer savings to consumers and overhaul the company’s revenue stream, Meniane facilitated the firm’s strong relationships with manufacturers and suppliers, which has reduced supply chain costs, increased inventory efficiency and improved warehouse operations. He built an inventory forecasting team and process from scratch for 75,000 SKUs and six warehouse locations and invested heavily in the company’s data science team. The company has improved inventory turns by 40% in 18 months and opened two distribution centers in 12 months, located in Las Vegas, NV and Grand Prairie, TX. CarParts.com is currently expanding its Texas distribution center and is in the process of opening its sixth distribution center in Jacksonville, FL, which will bring the company’s total footprint to over 1.2 million square feet.
Meniane also initiated a first-of-its-kind earnings “ask-me-anything,” where he and CEO Lev Peker went live with thousands of Clubhouse members who asked questions on everything from finances and company projections to competition.