Guitar Center ceo gives look at rise of company: Albertson talks about passion not margins.Those who attended the Professional Services (job) professional services - A department of a supplier providing consultancy and programming manpower for the supplier's products. Executive Roundtable in Westlake Village recently probably expected the keynote speaker, Guitar Center CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. MaW Albertson, to talk about gross margins and inventory control and all the other things that are key to the retail industry. What they got was a look behind the numbers that, until recently, made the Westlake Village-based company a Wall Street darling with an average annual earnings growth of 18 percent in the last five years. There was Albertson, a once-aspiring record producer living in Haight Ashbury who started working at Guitar Center as a salesman and rose to head the $1.8 billion public company, talking about passion and dreams, about the soul of the musician and the gift of music. To the 30-odd members of PSER PSER Public Service Employment Regulations , a loosely knit Adj. 1. loosely knit - having only distant social or legal ties; "a loosely knit group" distant, remote - far apart in relevance or relationship or kinship ; "a distant cousin"; "a remote relative"; "a distant likeness"; "considerations entirely removed (or remote) band of CEOs, CFOs and other senior-level executives mostly working in the Conejo Valley The Conejo Valley is a region spanning both Southeastern Ventura County and Northwest Los Angeles County in Southern California, United States. It was discovered in 1542 by Spanish explorer Juan Rodriguez Cabrillo, and eventually became part of the Rancho El Conejo land grant by and organized by Carlo Brignardello, a principal with CRESA Partners, Albertson told a story of what propelled Guitar Center. Founded in 1964, the retailer of guitars as well as other instruments and recording equipment, grew up in the heyday of rock and roll. And while those early customers have since grown and, for the most part, given up dreams of becoming the next rock icon, that fantasy still drives the business. "To some of you, Guitar Center maybe represents a dream you once had," Albertson said. "We represent these dreams  This article or section needs copy editing for grammar, style, cohesion, tone and/or spelling.You can assist by [ editing it] now. to a lot of people." Today, many of Guitar Center's customers are baby boomers who are bringing their children to the stores along with imaginings imaginings Noun, pl speculative thoughts about what might be the case or what might happen; fantasies: lurid imaginings that sons and daughters may be able to accomplish what fathers and mothers did not. Most of the salespeople at Guitar Center stores are musicians whose passion for music, along with Guitar Center's policy of allowing shoppers to spend as much time as they wish to in the store and try out any of the instruments displayed, has helped to develop a loyal customer base," Albertson said. By SHELLY GARCIA Senior Reporter |
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