BikeStreet names former Hhgregg COO as chief executive
Fort Lauderdale, Fla. — Bicycle retailer BikeStreet announced the appointment of former Hhgregg executive VP & COO Gregg Throgmartin as CEO. With 17 shops opened since the brand’s founding in 2012, BikeShop aims to acquire and/or open nearly 1,000 shops across the nation under Throgmartin’s leadership.
“As an investor in BikeStreet, I’ve been watching the growth of the company since they launched,” Throgmartin said. “Now, I look forward to having a direct role in it. Cycling is a rewarding business — there’s such passion for the sport, the culture and the people. BikeStreet has already established itself as an industry powerhouse, but we have the rare opportunity to take the brand to another level, to produce a significant return for our shareholders and to help our customers lead healthier lives.”
Throgmartin helped grow his family business, Hhgregg, from 35 stores and $450 million in revenue to more than 228 stores with $2.5 billion in revenue. He was an integral part of securing Hhgregg’s growth capital from private equity sources, then in taking the company through the initial public offering (IPO) process, and finally in facilitating a successful secondary offering to fund the company’s continued growth.
Throgmartin takes over the CEO position from Pat Patregnani, who will remain an integral part of the BikeStreet team as founder and chairman of the board.
Over the next seven years, BikeStreet plans to acquire and/or open nearly 1,000 shops across the nation. The company was created by avid cyclists for avid cyclists, as well as for children, families and even first-time cyclists who are considering the sport for exercise and recreation.
Egg producer names Webb to new ops role
The nation’s largest egg producer, Cal-Maine Foods, named Wil Webb to a new role as vp of operations.
Webb will be responsible for the company’s extensive production facilities in Alabama, Louisiana and Mississippi and reports to Cal-Maine COO Sherman Miller. Webb has been employed with Cal-Maine Foods since 1997 and most recently served as general manager of the company’s operations in Edwards, Mississippi.
“We are pleased to recognize the hard work and dedication that Wil Webb has shown to Cal-Maine Foods for over 17 years,” said Dolph Baker, chairman, president and CEO. “He brings extensive field experience to this position, having served in different locations for Cal-Maine Foods. He also understands the critical details involved in effectively managing our day-to-day operations. We are proud to have Wil join our management team, and we look forward to his valuable contributions as we continue to pursue our growth strategy.”
Macy’s head merchant Gennette named president
Jeffrey Gennette will take on the new role of president at Macy’s after serving the past five years as the department store retailer’s chief merchandising officer.
Gennette will report to Macy’s chairman and CEO Terry Lundgren and retain day-to-day responsibility for Macy’s merchandising functions, as well as oversight of marketing and macys.com. In addition, he assumes oversight responsibility for Macy’s private brands organization.
"Jeff Gennette is an outstanding merchant who has proven to be an insightful strategist and strong leader in our company," Lundgren said. "As our president, with the additional responsibility for Macy’s private brands, Gennette will have a total view of Macy’s merchandise assortment and marketing strategy – both in stores and online – consistent with our omnichannel vision. Our exclusive private brands, which have provided a powerful competitive advantage for Macy’s, will continue to play a vitally important role in delivering fashion, quality and value to our customers."
Gennette, 52, has nearly two decades of experience at Macys. Prior the five years he spent as chief merchandising officer, he served as chairman and CEO of Macy’s West for the previous year, and was chairman and CEO of Macy’s Northwest in Seattle from December 2005 to February 2008. Before that, Gennette was EVP and director of stores for Macy’s Central in Atlanta and SVP/general merchandise manager at Macy’s West. Gennette joined Macy’s West in 1983 as an executive trainee and held various merchant and store management positions in that division. During his career, Gennette also has served as a store manager for FAO Schwarz and director of stores for Broadway Stores.
Macy’s ended last year with 840 stores and annual sales of nearly $28 billion.