MEMPHIS, Tenn. — A Memphis philanthropist who co-founded the company that became AutoZone has died.
Peter Formanek died Saturday at the age of 76.
In 1979, Formanek and his friend Pitt Hyde co-founded Auto Shack, now Memphis-based auto parts supplier AutoZone, according to information on the company’s website. From the first location in Forrest City, Arkansas, the chain now has 6,411 stores.
Formanek was the company’s CEO from 1987 to 1994, according to the Memphis Business Journal. He was also a trustee for Lemoyne-Owen College.
Formanek was also a philanthropist who served as president and director of the Formanek Foundation.
The nonprofit distributed more than $1.5 million in grants to groups including Arts Memphis, Ballet Memphis and Boys & Girls Club of Greater Memphis, according to tax documents from 2018.