BikeStreet, a Fort Lauderdale-based chain of specialty bike shops, said Monday that Gregg Throgmartin has been named chief executive.
Throgmartin, 36, was formerly h.h.gregg’s executive vice president and chief operating officer and has decades of experience in retail, the company said. He grew his family business from 35 stores and $450 million in revenue to more than 228 stores with $2.5 billion in revenue. He also was an integral part of securing h.h.gregg’s growth capital from private equity sources, and then in taking the company through an initial public offering, BikeStreet said.
BikeStreet, which currently has 17 stores, said that over the next seven years it plans to acquire and/or open nearly 1,000 shops across the nation.
Throgmartin takes over as CEO from Pat Patregnani, who will remain a key part of the BikeStreet team as founder and chairman, the company said. The two have worked together for years, as h.h.gregg is a long-time client of Zimmerman Advertising, where Patregnani is the chief executive.