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Workman Tapped As Ultimate CEO

12/15/2003 09:21:00 AM Eastern

Thornton, Colo. - David Workman, president and chief operating officer of Ultimate Electronics, will succeed the retiring Ed McEntire as CEO at year’s end.

McEntire will also resign from Ultimate’s board of directors, which will permanently reduce its ranks from nine members to eight.

In a statement, chairman/founder Bill Pearse thanked McEntire for his leadership and management contributions during an 'exciting and challenging period,' and described Workman as 'one of the most knowledgeable retail executives in the consumer electronics industry.'

Workman joined the regional A/V specialty chain as a sales associate in 1979. He was promoted to store manager in 1982, VP/sales and store operations in 1985, executive VP/general manager in 1991 and president/COO in 1992.

In his new role as president/CEO, he will 'lead the continued growth and development' of Ultimate’s business, the company said, and will continue to serve as its spokesman.

McEntire said he is proud to have been associated with the chain for more than a decade, and is 'looking forward to the less demanding schedule that comes with retirement.'

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