Ultimate Electronics, Inc. announced the appointment of John Douglas Morton to its Board of Directors. Morton is vice chairman and chief executive officer of The Sports Authority, Inc.
“We are extremely pleased that Doug has agreed to join our Board of Directors. We consider his 30-plus years of retail experience, together with his leadership skills, extremely valuable to Ultimate Electronics as we continue to serve our expanding markets for mid- to high-end consumer electronics,” said William J. Pearse, founder and chairman of the board of Ultimate Electronics.
The recent merger of The Sports Authority, Inc. and Gart Sports Company created a company that generated combined pro forma revenue of approximately $2.5 billion in fiscal 2002. When Morton became president, chairman of the board and chief executive officer of Gart Sports in May 1995, Gart Sports generated annual revenues of approximately $125 million. Morton joined Gart Sports in 1986 as division manager of Gart Sports Utah region. In 1988, he was promoted to division vice president of the Utah region, and, in 1990, he was promoted to vice president of operations. In 1994, Morton was promoted to executive vice president with responsibility for stores, distribution and marketing.
With the addition of Morton, Ultimate Electronics' Board of Directors is now comprised of nine members, including five independent directors. Morton joins the board as a Class I independent director.
