OPERATIONS

Lumber Liquidators expands board to nine members

BY Dan Berthiaume

Toano, Va. — Lumber Liquidators is expanding its board of directors from eight to nine members with the appointment of Nancy M. Taylor as a Class III director effective April 1. Taylor currently serves as the president and CEO of Tredegar Corp., serving in such roles since January 2010, and is a member of Tredegar’s board of directors.

Prior to assuming her current positions, she was executive VP of Tredegar responsible for corporate business development in addition to her role as president of Tredegar Film Products. Previously, she served in roles of increasing responsibility at Tredegar since she joined the company in 1991. Before joining Tredegar, she was an associate at the law firm of Hunton & Williams.

"We are excited and pleased to welcome Nancy to our board of directors,” Robert M. Lynch, president and CEO. “Nancy is a respected executive with a wealth of business and leadership experience. We look forward to benefiting from the knowledge and insight she will bring to Lumber Liquidators’ board as we continue to grow our business."

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Macy’s promotes head merchant to president

BY Marianne Wilson

New York — Macy’s on Monday announced that chief merchandising officer Jeffrey Gennette has been named president of corporation, effectively immediately. Gennette, 52, has been Macy’s chief merchant since 2009.

Gennette will retain day-to-day responsibility for Macy’s merchandising functions, and will oversee marketing and macys.com. In addition, he assumes responsibility for Macy’s Private Brands organization.

“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,” said Terry J. Lundgren, Macy’s chairman and CEO. “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.”

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BikeStreet names former Hhgregg COO as chief executive

BY Staff Writer

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.

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