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hhgregg Bolsters Executive Ranks

9/09/2009 10:09:32 AM Eastern

Indianapolis - hhgregg has promoted three executives to senior management ranks as the chain prepares for a major build-out along the Eastern seaboard.

The newly promoted include interim chief financial officer Jeremy Aguilar, who was named chief financial officer; store operations senior VP Gregg Throgmartin, who was named executive VP and COO; and Michael Larimer, who was promoted to chief merchandising officer from his previous post as electronics merchandising senior VP.

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"These individuals have been integral to our success, and these title changes only solidify their continuing contribution to the leadership of this organization," said president Dennis May, who himself assumed the additional title of CEO last month. "With these promotions, we believe we have the best team in place to take hhgregg to the next level of growth."

The multiregional CE and appliance dealer announced plans to enter the Baltimore, Philadelphia and Washington markets next year as part of a major expansion into the Mid-Atlantic States, and has confirmed its ambition to become a national chain with upward of 400 stores.

Aguilar joined hhgregg from KPMG in 2005 and served as VP/controller and financial reporting director before being named interim chief financial officer in March. He played an integral role in the retailer's initial public offering and subsequent stock offerings, as well as the development of "a strong finance team," the company said. His appointment to chief financial officer follows "an extensive search and meeting with many outstanding external candidates," May said.

Throgmartin, a member of the company's founding Throgmartin family, joined the business in 2001 and has variously served as a store manager, regional manager, sales VP and strategic merchandising director. In his new role, all merchandising, marketing and store operations functions will report to him.

"Gregg has led the company through more than 65 successful grand openings and has held almost every operations role within the organization," May said. "He has overseen the execution of our store rollouts and has been an integral part of differentiating hhgregg in the marketplace through our superior customer purchase experience."

Larimer joined the company in 1999 as video merchandising manager, and was named electronics merchandising senior VP in 2001. In his new role, Larimer will provide merchandising oversight over all categories.

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