Hearing aids manufacturer Zounds Inc. reported Wednesday that it has hired John Costello as its chief executive officer, president and director. The Mesa, Ariz.-based company said Costello succeeds its founder and former CEO, Sam Thomasson, who will transition to vice chairman and remain as a director. Prior to joining Zounds, Costello served as vice chairman of Pay By Touch. Before that, he was executive vice president of merchandising and marketing for The Home Depot and senior executive vice president of Sears. Costello began his career at The Procter & Gamble Co. and enjoyed stints with Pepsi-Cola USA, Yahoo!, Mvp.com and Nielsen Marketing Research.