Gallant joins HMV as profits double.

HMV Europe has turned to one of the music industry's most experienced retail players to help to build on record trading figures, appointing Steve Gallant as product director.

Gallant joins the business after four years as Universal Music commercial director just as newly-published financial figures reveal the retailer's operating profit soared by 52.0% in the past year. He succeeds David Roche, who moved across to sister company Waterstone's at the end of last year in the same role.

Gallant believes he is joining the company at a positive time as its recent flotation has made more money available to expand the business. "They're the best music retailer by far in this country, probably in Europe, and I think with my experience at Our Price, Asda and Universal I can contribute a lot to what they're trying to achieve," he adds.

His switch to HMV marks a return to the retail sector after spending four years at Asda prior to joining Universal. There, as category manager for entertainment and paper shops, he transformed the supermarket into one of the leading music retailers. Before that he spent 13 years at Our Price in positions including marketing manager and head of buying.

Universal Music chairman and CEO Lucian Grainge says, "I clearly wanted Steve to stay and tried very hard to persuade him, but Steve felt the time was right to go back to the retail side of the business. The good thing is that we'll hopefully see a lot of him in the future."

The addition of Gallant to the team comes as HMV Group prepares to open around 20 stores in the coming year. Its chief executive Alan Giles says capital investment for the year ahead is more than double last year's figures, as the ...