Former HHGregg COO hired to lead bicycle retailer

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A former high-ranking executive of HHGregg Inc. who officially left the company Monday has been hired to lead an upstart bicycle retailer.

The locally based electronics and appliance retailer announced in February that Gregg W. Throgmartin would step down March 31 from his role as chief operating officer. His departure leaves HHGregg without executive leadership from a member of its founding family for the first time since its first store opened in 1955.

Throgmartin, 36, has turned his attention to Fort Lauderdale, Fla.-based BikeStreet USA, which announced his appointment Monday as CEO.

BikeStreet was founded in 2012 and has 17 locations nationwide. Under Throgmartin’s leadership, the company aims to expand by acquiring and/or opening 1,000 shops over the next seven years, it said Monday.

“As an investor in BikeStreet, I’ve been watching the growth of the company since they launched,” Throgmartin said in a prepared statement. “Now I look forward to having a direct role in it.”

Throgmartin takes over as CEO from Pat Patregnani, who founded the company and will remain as its board chairman. The two have worked together for years. HHGregg is a longtime client of Fort Lauderdale, Fla.-based Zimmerman Advertising, where Patregnani also is CEO, Bikestreet said in the announcement.

Throgmartin had been with HHGregg for 13 years and became COO in September 2009. In the February statement announcing his departure, HHGregg said Throgmartin was leaving “to pursue other interests and manage family businesses.”

An outside spokeswoman for BikeStreet said Throgmartin was unavailable to comment on his new job.

In August and September of 2013 and March of 2014, Throgmartin cashed out of more than $10.2 million in company stock he owned.

HHGregg has yet to announce a replacement for Throgmartin.

Throgmartin is the son of former longtime HHGregg CEO Jerry Throgmartin, who died in January 2012 at 57 after 37 years with the company. Jerry Throgmartin's father, Gerald, was with the company from 1966 until the last decade, and his grandfather, Henry Harold Gregg, founded the company.

Throgmartin is the second HHGregg executive to announce his resignation from the company in recent months.

Jeremy J. Aguilar, HHGregg’s chief financial officer, announced in December that he would leave the company effective Jan. 31. He took a job with Sports Authority in February.

Shares of HHGregg were up 13 cents Tuesday morning, to $9.74 each, after trading as high as $20.75 in September.


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  1. The deductible is entirely paid by the POWER account. No one ever has to contribute more than $25/month into the POWER account and it is often less. The only cost not paid out of the POWER account is the ER copay ($8-25) for non-emergent use of the ER. And under HIP 2.0, if a member calls the toll-free, 24 hour nurse line, and the nurse tells them to go to the ER, the copay is waived. It's also waived if the member is admitted to the hospital. Honestly, although it is certainly not "free" - I think Indiana has created a decent plan for the currently uninsured. Also consider that if a member obtains preventive care, she can lower her monthly contribution for the next year. Non-profits may pay up to 75% of the contribution on behalf of the member, and the member's employer may pay up to 50% of the contribution.

  2. I wonder if the governor could multi-task and talk to CMS about helping Indiana get our state based exchange going so Hoosiers don't lose subsidy if the court decision holds. One option I've seen is for states to contract with healthcare.gov. Or maybe Indiana isn't really interested in healthcare insurance coverage for Hoosiers.

  3. So, how much did either of YOU contribute? HGH Thank you Mr. Ozdemir for your investments in this city and your contribution to the arts.

  4. So heres brilliant planning for you...build a $30 M sports complex with tax dollars, yet send all the hotel tax revenue to Carmel and Fishers. Westfield will unlikely never see a payback but the hotel "centers" of Carmel and Fishers will get rich. Lousy strategy Andy Cook!

  5. AlanB, this is how it works...A corporate welfare queen makes a tiny contribution to the arts and gets tons of positive media from outlets like the IBJ. In turn, they are more easily to get their 10s of millions of dollars of corporate welfare (ironically from the same people who are against welfare for humans).