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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowIndianapolis-based electronics and appliances retailer HHGregg Inc. said today it plans to appoint a new CEO in August. It also said its current CFO is stepping down.
The company’s current president, Dennis L. May, will take over for Jerry W. Throgmartin, a 33-year veteran of the chain who has served as CEO since 2003. Throgmartin will become the executive chairman of the company’s board.
May, 41, joined HHGregg in 1999. He has led the company’s rapid expansion, including the addition of 23 stores over the last 12 months.
HHGregg said its chief financial officer, Donald J.B. Van der Wie, is leaving to “pursue other opportunities.” The company has begun a search for a replacement.
“Don was instrumental in preparing HHGregg for its initial public offering in 2007 and our successful growth as a public company,” Throgmartin, 54, said in a statement. “We are fortunate to be making this transition following the recent completion of a successful quarter, with a strong financial position and with a deep and experienced finance team in place.”
Shares in HHGregg closed at $10.10 each this afternoon, down more than 6 percent in a market-wide route.
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