Indianapolis-based hhgregg (NYSE: HGG) has added Andretti Autosport chairman Michael Andretti to its board of directors. The addition follows last month’s announcement that hhgregg would serve as the co-primary sponsor of Marco Andretti’s car in the Verizon IndyCar Series beginning in 2017.
hhgregg signed in August a multi-year extension of the partnership which began earlier this year. Andretti, who also serves as president and chief executive officer of Andretti Autosport, formed the organization in 2002 after retiring from racing.
"Michael has proven to be a results-driven professional in both his racing and business careers," said Cathy Langham, chairperson of the hhgregg Board of Directors. "I am eager to add his vision, marketing and leadership experience to the board dynamic."
Andretti says he is proud to be a part of the hhgregg team. "As an Indianapolis-based company, I’ve always been aware of their strong presence both locally and nationally. I’m looking forward to bringing some of the Andretti team vision to the position and helping them continue to build a formidable brand."
Last month, hhgregg announced changes in its executive leadership, including the addition of Robert Riesbeck as CEO. Just days before, the company reported a fiscal first quarter net loss of $7.2 million.