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PLANTATION, Fla. - Alliance Entertainment (NASDAQ:AENT) has promoted Amanda Gnecco to Chief Financial Officer, effective immediately, the company announced Wednesday. The entertainment distributor, currently valued at $316 million, has shown strong momentum with an 11% gain in the past week, according to InvestingPro data.
Gnecco, who previously served as Chief Accounting Officer, has been with Alliance Entertainment since 2018 and played a key role in the company’s transition from private to public status. She replaces CEO Jeff Walker, who had been serving in a dual CEO-CFO capacity.
"Amanda’s promotion to CFO is a reflection of her exceptional leadership, deep financial expertise, and unwavering commitment to our company’s success," Walker said in a press release.
In her new role, Gnecco will oversee all financial operations including strategic planning, investor relations, SEC reporting, debt management, treasury operations, budgeting, tax strategy, and regulatory compliance.
Prior to joining Alliance Entertainment, Gnecco held senior financial positions at Envision Healthcare and Pet Supermarket. She holds a Master of Science degree in Accounting from Keller Graduate School of Management, where she graduated as valedictorian, and a Bachelor of Arts degree in Accounting from Midwestern State University. She is also a Certified Public Accountant.
Alliance Entertainment, a distributor in the entertainment and pop culture collectibles industry, maintains an inventory of over 325,000 unique items including compact discs, vinyl LPs, DVDs, Blu-rays, video games, and licensed merchandise.
Bruce Ogilvie, Chairman of the Board, described Gnecco’s promotion as "a strategic move that strengthens our executive team as we pursue long-term value creation," according to the company statement.
In other recent news, Alliance Entertainment Holding Corp. reported financial results for the third quarter of fiscal year 2025, showing significant profit growth. The company achieved a net income of $1.9 million, or $0.04 per share, reversing a net loss of $3.4 million from the same period last year. Revenue rose slightly to $213 million from $211.2 million in the previous year’s quarter. In analyst developments, Maxim Group initiated coverage on Alliance Entertainment with a Buy rating and set a price target of $10.00. The firm highlighted the company’s strengths in nostalgia, ownership, and fandom, supported by a rich content library and strong licensing capabilities. Additionally, Alliance Entertainment appointed Robert Oram as Executive Vice President. Oram will lead the company’s filmed entertainment sales and distribution efforts, focusing on enhancing their exclusive distribution agreement with Paramount Home Entertainment. His role aims to boost retail execution and accelerate sales growth, particularly in high-value collectible formats.
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