Phillips Industries announced that Rob Phillips, current president and chief operating officer, will succeed Bob Phillips as chief executive officer, who, after being CEO since 1963, announced his retirement. Bob will remain chairman of the board for the foreseeable future.

“Phillips is an extraordinarily successful family business now transitioning to our fourth generation of leadership with Rob’s ascension to CEO,” said Bob Phillips. “It’s bittersweet for me because I’ve loved every day building this company to what it is today, but I am confident and thoroughly delighted to see Rob take on the CEO role. As president and COO, he’s been moving the company forward to meet the challenges of a very exciting time in our industry.”

In its 92nd year of operation, Phillips Industries has evolved from an automotive parts distributor to a manufacturer of electrical and air brake interface equipment for commercial vehicles under Bob’s leadership. He has also served as a member of many organizations, including chairman of the Heavy Duty Business Forum for the Heavy Duty Manufacturers Association, as well as a member of the Society of Automotive Engineers, Truck Trailer Manufacturer’s Association, and ATA’s Technology and Maintenance Council. In 2014, Bob was inducted into the Heavy Duty Aftermarket Hall of Fame.

“My dad is the reason we’ve made this successful journey so far, and I’ll rely on his important counsel going forward,” said Rob Phillips, who has been president and COO since 2013.

Rob has led the company to reorganize its business into five distinct strategic business units: Phillips Aftermarket, Phillips OEM, Phillips Connect Technologies, Phillips Asia-Pacific, and Phillips Europe.

“The success of the wide arc of the Phillips Industries family of businesses drives everything we do here, and I’m incredibly honored to be named CEO at such an exciting time,” said Rob. “But most importantly, let’s not forgot who got us here.”