Ultimate Electronics Names Pearse President
Ultimate Acquisition Partners, which owns 32 Ultimate Electronics stores in nine states, has named Jim Pearse as company president. Pearse has held several positions with Ultimate Electronics since 1993, most recently serving as senior vice president of merchandising.
“This promotion recognizes Jim’s contribution to Ultimate Electronics’ successful turnaround,” said Bruce Giesbrecht, CEO of Ultimate Electronics commented. “Before the acquisition by Wattles Capital Management in April 2005, Ultimate Electronics stores experienced years of deteriorating sales performance and declining EBITDA caused by problems in merchandising, marketing and store operations. Since then, we have fixed the product assortment, rationalized the pricing and promotional strategies, and rebuilt a sales culture in the stores.”