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Tweeter Home Entertainment Group's board has named interim CEO Joe McGuire as president/CEO, filling a position vacated in March when Jeff Stone left to become Tivoli Audio's CEO. In being named to his new post McGuire projected a return to profitability for the year ended September 2006.
McGuire was Tweeter's chief financial officer when he added the interim CEO title in March. He came to Tweeter in 1996 when Tweeter acquired his company, Bryn Mawr Stereo and Television. He was Bryn Mawr's chief financial officer for 10 years. Paul Burmiester was recently tapped to replace McGuire as Tweeter's chief financial officer.
McGuire was elected to his new position by a unanimous vote of the board, which interviewed about six candidates for the position. McGuire was the only internal candidate interviewed.
In his months as interim CEO, McGuire made internal changes to bring the company closer to achieving its service goals, including last month's merging of Tweeter's sales and installation divisions. In his new roles, he will be responsible for returning the company to profitability and “to continuing the evolution the company's business model” to focus on in-home installation and other in-home services, a spokeswoman said.
Tweeter's focus, McGuire told TWICE, is to “continue to drive solution design and product integration.” The company's product selection, he said, “will evolve to support solutions, integration of legacy equipment and the continued move to all-digital entertainment.”