hhgregg Collects On Throgmartin Insurance Policy
hhgregg has collected $40 million from an insurance policy on former chief executive Jerry W. Throgmartin, who passed away earlier this year, the Indianapolis Business Journal reported.
The company, the report said, will pay $600,000 to Throgmartin's estate and devote the rest to "general corporate and working capital purposes."
Throgmartin, the hhgregg's executive chairman who retired as CEO in 2009, passed away in January after a sudden illness. He was a 2008 inductee into the Dealerscope Hall of Fame.