HHGregg hires former Marsh exec as CFO

Indianapolis-based HHGregg Inc. has hired former Marsh Supermarkets executive Robert J. Riesbeck as its new chief financial officer, the appliances and electronics retailer announced Thursday.

Riesbeck, 50, will officially assume the position Monday.

Riesbeck was most recently operations executive/group CFO at Boca Raton, Florida-based private investment firm Sun Capital Partners Inc., where he spent the past four years overseeeing financial operations for a group of portfolio companies with revenues exceeding $5 billion.

From February 2007 to September 2010, Riesbeck served as CFO of Marsh Supermarkets, which is owned by Sun.

Prior to Marsh, he filled CFO positions at American Golf Corp. and at a business unit of Nike Inc.

“We are excited to add Bob's extensive financial experience to our executive team,” HHGregg CEO Dennis May said in a prepared statement. “As we continue to transform the company and work toward the goal of becoming a national retailer, Bob's experience in financial and operations management in the retail industry make him the perfect fit.”

Riesbeck will receive a base salary of $400,000 plus incentives that could more than double that amount, in addition to other benefits.

He will replace Jeremy J. Aguilar, who left in January after almost five years in the position. Aguilar took the CFO’s job at sporting goods retailer Sports Authority in February.

HHGregg shares rose nearly 6 percent Thursday, to close at $6.74 each.