Ronald Unkefer, founder of The Good Guys, is retaking the helm of the 79-store specialty chain on July 1, exactly 26 years after he launched the company, and eight and one-half years after he relinquished management control.
Unkefer will reassume the posts of chairman-CEO, replacing president Robert Gunst, who two months ago announced his plan to resign, effective June 30.
In addition to rejoining The Good Guys management team, Unkefer is becoming a major shareholder. He will be investing about $4.7 million to acquire 1.45 million newly issued restricted common shares, giving him a 10% stake.
Unkefer stepped down as CEO at the start of 1993 and retired from the post of chairman at the end of 1995, the last year in which The Good Guys showed a full-year profit.
The Good Guys, which operates in highly competitive West Coast markets, has run up some $26 million in net losses through its past fiscal year, which ended September 30. While it posted a profit in the first quarter of this year, it had a large second-quarter loss and closed out the half with a loss of $5.6 million.
In commenting on his pending effort to turn the chain's finances around Unkefer said, "We plan to leverage the broad-based recognition and high regard for The Good Guys brand to reaffirm the company's position at the forefront of consumer electronic retailing."