Larry Gaines Is New President of Wherehouse Music1 May, 2001 By: Hive News
Wherehouse Music announcedTuesday that Larry Gaineshas been promoted topresident and c.o.o. of theTorrance, Calif.-based musicand home entertainmentretailer.
Gaines previously served asexecutive v.p. and c.o.o. for the national, 497-storechain. He replaces HughHilton, who will step downfrom his post to return toduties with Alvarez & Marsal, the New York-based corporateturnaround firm, asmanaging director of their Southern California office.
Wherehouse Music alsoannounced that Mark Velarde,executive v.p. and c.f.o., will assume additionalresponsibilities as chiefadministrative officer of thecompany.
Wherehouse Entertainment Inc. is the third largestmusic retail chain in theU.S., with 497 stores in 29states, and annual revenuesover $800 million.
In addition to pre-recordednew music, the chain sells VHSvideos, DVDs, games and otherentertainment-relatedproducts. Selected storesalso rent videos, DVDs and video games.