It’s official: Robert Riesbeck is the new boss at hhgregg.
Riesbeck, who joined the chain in 2014 as chief financial officer, stepped in as interim president/CEO after Dennis May stepped down in February, and soon made it clear he was a contender for the permanent spot.
He will continue to serve as chief financial officer until a successor is named.
“I am very excited to be appointed the president and CEO,” he said in a statement. “Over the past six months, we have made progress toward our top company goal of driving sales growth through our focus on appliances, furniture and large, premium television. The team we put in place over the last 12 months will continue to build on this momentum to achieve our company’s growth and profitability goals and drive the long-term shareholder value of hhgregg.”
Riesbeck wasted no time in his interim role. Among his actions over the past six months:
* shook up the senior management ranks;
* adding TV to its free delivery service;
* began building out the Fine Lines premium majap business;
* began remodeling showrooms to better showcase furniture;
* upped investments in digital;
* began streamlining the company’s its logistics and supply chain functions, which could save upwards of $25 million annually.
Riesbeck joined hhgregg from Sun Capital Partners, a private equity group, where he was operations and group chief financial officer.
