Hhgregg COO Throgmartin resigns

INDIANAPOLIS (AP) -- Appliance and electronics store chain Hhgregg said Tuesday that Executive Vice President and Chief Operating Officer Gregg W. Throgmartin has resigned to pursue outside interests and manage family businesses.

Throgmartin is also stepping down from the company's board.

Shares of Hhgregg Inc. fell 26 cents, or 3 percent, to $8.46 in morning trading. The stock is down 17 percent over the past year.

Throsmartin has served as executive vice president and COO since September 2009, according to CapitalIQ. He joined Hhgregg in 2001.

The resignation is effective on March 31.

Hhgregg said its board will start a search for a new COO and that other executives will take on Throgmartin's responsibilities in the interim.