Effective September 1, 2019, Gary Bannett will succeed Matt Elkes as the CFO for Almo Corporation. Elkes is retiring from the position, having served as CFO for 25 years at Almo Corporation.
“Although Matt is retiring as CFO of Almo, he will continue to serve the organization as a member of our Advisory Board,” said Almo Chairman, Gene Chaiken in a statement. “We are fortunate that we will have his counsel and wealth of experience to continue to guide the company’s strategy.”
Bannett joined Almo in January 2019 as Senior Vice President of Finance and brings over 30 years of experience, recently leading finance and accounting operations as CFO for four years at Prometheus Global Media, operators of Billboard Magazine and the Hollywood Reporter. Bannett has served in senior financial management positions for several other companies in the entertainment and publishing markets for more than 20 years.
“Gary brings experience from a diverse range of businesses, from start-ups to multi-billion dollar organizations,” said Warren Chaiken, president and CEO of Almo Corporation in a statement. “As we move into our 73rd year in business, Almo will continue to innovate with the entrepreneurial spirit of a small company and the financial and operational excellence of the $1 billion dollar-plus company we’ve become. Gary’s leadership will enable us to continue this growth to the benefit of our manufacturing and reseller partners far into the future.”
Bannett holds an MBA with concentration in finance, strategic management and leadership; and a Bachelor of Business Administration with focus in marketing, general management and IT, both from The George Washington University.
Almo Corporation has served as the largest independent distributor of appliances, consumer electronics, professional Audio/Video equipment, furniture and housewares in the United States for over seven decades. Almo operates nine regional distribution facilities with over 2.5 million square feet of warehousing, working with over 2,000 independent major appliance and electronics dealers.