June 18, 2012 / 9:16 PM / in 6 years

UPDATE 1-Pep Boys CFO resigns

June 18 (Reuters) - Pep Boys-Manny, Moe & Jack said its chief financial officer has resigned to pursue another business opportunity, less than a month after a private equity firm walked away from buying the auto repair chain.

Ray Arthur, who joined Pep Boys in May 2008, will continue as CFO till June 29, the company said. It did not say where Arthur was going.

Pep Boys has engaged Russell Reynolds to search for a new CFO.

Last month Gores Group canceled an agreement to buy Pep Boys for $791 million, citing serious deterioration in the company’s business.

Pep Boys shares closed at $9.45 on the New York Stock Exchange on Monday.

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