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hhgregg Chairman Michael Smith To Step Down

Indianapolis – Michael Smith will leave hhgregg’s board this summer after three years as chairman and 10 years as a director.

No successor was named.

Smith joined the retailer’s board in 2005 after retiring from health benefits company Anthem Blue Cross Blue Shield as chief financial and accounting officer.

According to a federal filing, he notified the CE, appliance and home furnishings chain that he would not stand for re-election at its next annual stockholder meeting.

His decision follows that of Best Buy chairman Hatim Tyabji to retire from that company’s board in June, to be succeeded by president/CEO Hubert Joly.