Guitar Center Holdings, Inc. appointed Ken Hicks, executive chairman of Academy Sports and Outdoors and former CEO, as Board Chair. Guitar Center also named Gabriel Dalporto its new CEO and rehired Tim Martin as CFO.
Hicks joined Academy Sports in May 2018 as chairman, president and CEO, leading the chain’s transition to a public company. He transitioned to the newly created role of executive chairman, effective June 1, as part of a succession plan.
Before Academy, Hicks was the chairman, president and CEO of Foot Locker, Inc. and has held leadership positions over his 40-year career at J.C. Penney, Payless ShoeSource, Home Shopping Network, May Department Stores Company, and McKinsey & Company.
Hicks serves on the Board of Directors of Avery Dennison Corp. and previously on the Board of Whole Foods Market.
Hicks stated, “It’s an honor to serve as Guitar Center’s Board Chairman as the company continues its transformation to becoming the ultimate online and in-store destination for music services, products and experiences. I look forward to working with Gabe, the Board and leadership team, as well as the thousands of talented employees across the organization to advance Guitar Center’s long-term strategy.
Dalporto, who previously worked in various C-suite roles at LendingTree, replaced Ron Japinga as CEO. Japinga no longer serves as a member of Guitar Center’s Board. Martin was Guitar Center’s CFO from 2012 to 2022.
Guitar Center Holdings equity investors, including funds managed by the Ares Private Equity Group, The Carlyle Group and Brigade Capital Management, said, “Today marks the beginning of a new chapter for Guitar Center, our employees and our valued customers. The appointments of Gabe and Ken, as well as Tim’s return, will bring substantial new capabilities to the company that will allow us to unlock new growth opportunities. Gabe’s transformation and digital expertise combined with Ken’s retail experience, along with Tim’s extensive knowledge of the company and industry, position Guitar Center well for long-term success.”
Photo courtesy Guitar Center Holdings
