h.h. gregg COO Gregg Throgmartin resigns
Appliance and electronics retailer h.h. gregg announced Tuesday that its EVP and COO, Gregg Throgmartin, has tendered his resignation.
"I would like to thank Gregg for his leadership and many contributions to hhgregg over the past 13 years," said president and CEO Dennis May. "Gregg has been an instrumental member of our leadership team and helped support the growth of the Company’s store base as we work toward becoming a national retailer."
Effective March 31, Throgmartin will leave the company to pursue outside interests and manage family businesses.
“I want to thank h.h. gregg for everything the company has meant to both my life and career," said Throgmartin. "I believe that the company is in great hands and that the strategic initiatives the company is embarking on will continue to make the company prosperous. I wish the company the best in its future endeavors.”
The company’s board is currently searching for a replacement. In the meantime, other operations officers will fulfill his responsibilities.
Valspar sales jump 9% in Q1
Minneapolis-based global paint company Valspar Corp. reported first-quarter net sales of $956 million, up 9% over the same quarter last year.
Net income declined to $53.5 million, compared with $55.0 million in the year-ago quarter.
CEO Gary Hendrickson reported "strong growth in both our paints and coatings segments, reflecting the benefits of new business wins, acquisitions and productivity improvements. We remain focused on executing our significant new business initiatives and productivity plans to drive growth in fiscal 2014.”
Net sales in the paints segment increased 10% to $361 million in the first quarter of 2014, primarily driven by strong volume growth in the U.S., China and improving volume in Australia.