HHGregg's CFO to depart in January

Back to TopCommentsE-mailPrintBookmark and Share

The chief financial officer of Indianapolis-based retailer HHGregg Inc. has resigned, effective Jan. 31, to take a similar position with another firm, the company announced Thursday.

Jeremy J. Aguilar, 39, has been CFO for the electronics and appliances chain since 2009. The company intends to elevate Andrew S. Giesler, senior vice president of finance, to interim CFO, but will also initiate a search for Aguilar’s permanent replacement.

It was not immediately clear where Aguilar plans to work next. He did not return a call from IBJ on Thursday morning.

"I would like to thank Jeremy for his leadership and many contributions to HHGregg over the past eight years,” said President and CEO Dennis May in a prepared statement. “Jeremy 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.”

Gregg currently operates 228 stores in 20 states across the eastern half of the U.S.

The firm embarked on an aggressive expansion plan over the last decade, which was slowed by the economic downturn. As the electronics category has cooled, executives have tried to rebalance the stores’ product mix to other home products, such as appliances.

The firm’s strategy appeared to give Wall Street more confidence. HHGregg shares shot up in 2013, rising from $7.27 at the start of the year to as high as $20.75 in September. They since have fallen back to about $15.00.

Shares declined another 3 percent on Thursday morning to $14.50.


Post a comment to this story

We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
You are legally responsible for what you post and your anonymity is not guaranteed.
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
Subscribe to IBJ
  1. With Pence running the ship good luck with a new government building on the site. He does everything on the cheap except unnecessary roads line a new beltway( like we need that). Things like state of the art office buildings and light rail will never be seen as an asset to these types. They don't get that these are the things that help a city prosper.

  2. Does the $100,000,000,000 include salaries for members of Congress?

  3. "But that doesn't change how the piece plays to most of the people who will see it." If it stands out so little during the day as you seem to suggest maybe most of the people who actually see it will be those present when it is dark enough to experience its full effects.

  4. That's the mentality of most retail marketers. In this case Leo was asked to build the brand. HHG then had a bad sales quarter and rather than stay the course, now want to go back to the schlock that Zimmerman provides (at a considerable cut in price.) And while HHG salesmen are, by far, the pushiest salesmen I have ever experienced, I believe they are NOT paid on commission. But that doesn't mean they aren't trained to be aggressive.

  5. The reason HHG's sales team hits you from the moment you walk through the door is the same reason car salesmen do the same thing: Commission. HHG's folks are paid by commission they and need to hit sales targets or get cut, while BB does not. The sales figures are aggressive, so turnover rate is high. Electronics are the largest commission earners along with non-needed warranties, service plans etc, known in the industry as 'cheese'. The wholesale base price is listed on the cryptic price tag in the string of numbers near the bar code. Know how to decipher it and you get things at cost, with little to no commission to the sales persons. Whether or not this is fair, is more of a moral question than a financial one.