JB Hi-Fi
(ASX:JBH) has announced a change in senior management for The Good Guys -- which it bought for $870 million last year.
Michael Ford has resigned as the CEO of The Good Guys after 13 years in the role.
Mr Ford will be replaced by Terry Smart, who used to be the CEO of JB Hi-Fi, before Richard Murray took over the role in 2014.
JB Hi-Fi also released a quarterly update, reporting that total sales increased by 10.8%. As for The Good Guys, its total sales grew 2.6%.
JB Hi-Fi has reaffirmed its guidance for FY17– and expects its Group underlying NPAT to be between $200m and $206m (which is a boost of up to 35.4% compared to the previous year).
This morning, JB Hi-Fi shares are trading 3.6% higher at $25.29.
