Former Billboard/Hollywood Reporter Media CFO Brings More Than 30 Years of Experience to Almo’s Financial Operations
Philadelphia, PA — August 28, 2019 —Almo Corporation, the nation’s leading independent distributor of appliances, consumer electronics, Pro A/V equipment and housewares, has named Gary Bannett Chief Financial Officer (CFO), effective September 1, 2019. Bannett will succeed Matt Elkes, who is retiring after serving as CFO at Almo Corporation for 25 years.
“Gary brings experience from a diverse range of businesses, from start-ups to multi-billion dollar organizations,” said Warren Chaiken, president and CEO of Almo Corporation. “As we move into our 73rd year in business, Almo will continue to innovate with the entrepreneurial spirit of a small company and the financial and operational excellence of the $1 billion dollar-plus company we’ve become. Gary’s leadership will enable us to continue this growth to the benefit of our manufacturing and reseller partners far into the future.”
Almo Chairman, Gene Chaiken added, “Although Matt is retiring as CFO of Almo, he will continue to serve the organization as a member of our Advisory Board. We are fortunate that we will have his counsel and wealth of experience to continue to guide the company’s strategy.”
Bannett joined Almo in January 2019 as Senior Vice President of Finance. Previously, he led finance and accounting operations as CFO for four years at Prometheus Global Media, operators of Billboard Magazine and the Hollywood Reporter. Bannett has served in senior financial management positions for several other companies in the entertainment and publishing markets for more than 20 years. Bannett is based out of Almo’s Philadelphia, PA corporate headquarters. He holds an MBA with concentration in finance, strategic management and leadership; and a Bachelor of Business Administration with focus in marketing, general management and IT, both from The George Washington University.
About Almo Corporation
For more than seven decades, Almo Corporation has served as the largest independent distributor of appliances, consumer electronics, professional Audio/Video equipment, furniture and housewares in the United States. Meeting the needs of retailers across the country, Almo operates nine regional distribution facilities with over 2.5 million square feet of warehousing.
Almo focuses on four major business segments or divisions. The Major Appliance and Electronics dealer channel segment works with more than 2,000 independent dealers throughout the United States distributing household name-brand products in a variety of retail categories. The Premium Appliances division works with independent retailers of luxury appliances and outdoor lifestyle products including patio furniture and BBQ grills. The Professional A/V division provides value-added technology and professional audio visual products and services to professional integrators, dealers and consultants. The Fulfillment Division is a state-of-the-art e-Commerce Fulfillment business that serves some of the largest online retailers in the country with a wide range of products. For more information, go to www.almo.com or call 800-345-2566.