Westlake Village, CA (March 21, 2013)—Guitar Center has named Mike Pratt to become Chief Executive Officer and a member of the company’s Board of Directors, effective April 1, 2013. He will replace Interim CEO Marty Hanaka, who will remain on the Board to assist in the transition.
Pratt has served as President and Chief Operating Officer of Best Buy Canada and Future Shop since 2008. He began his career more than 20 years ago with Future Shop, which was acquired by Best Buy Canada in 2001. During Pratt’s tenure, Best Buy Canada grew from 165 to 275 stores and expanded its e-commerce activities and web presence.
“Over the last few months, I’ve had the chance to look at [Guitar Center]closely, and I came away very impressed with its dynamic, multi-format business model with strong in-store and web-based brands,” Pratt said. “I’m excited about this opportunity and looking forward to working with Guitar Center’s management team and dedicated associates to build the business at retail and online.”
Pratt will be working closely with other members of Guitar Center’s management team, including: John Bagan, Executive Vice President & General Merchandising Manager; Michael Doyle, Senior Vice President, Guitar Merchandise; Dennis Haffeman, Executive Vice President of Human Resources; Frank Hamlin, Executive Vice President/General Manager of E-Commerce & Marketing; Gene Joly, Executive Vice President of Stores; Tim Martin, Executive Vice President and Chief Financial Officer; Michael Walter, Senior Vice President, Drums, B&O and Accessories; and Bill Wrightson, Senior Vice President, Technology Merchandise & Proprietary Product Management.
“2012 was a strong year for Guitar Center, and we continue to remain on track with the goals outlined in our strategic business plan,” stated Gene Joly. “With the appointment of Mike Pratt as CEO, who has a proven track record in retail, Guitar Center will continue to grow and expand over the coming years. He is a vital addition to our team and we look forward to working with him.”