Things still aren't going well over at beleaguered CE retailer Circuit City.
TWICE: Circuit City Losing Top Operational Exec
TWICE: Circuit City Losing Top Operational Exec
David Mathews, Circuit City’s top operational executive, is leaving the company at month’s end for another job.
Mathews is the CE chain’s merchandising, services and marketing executive VP, a position he was promoted to last February. He is resigning to become president of Orchard Brands, a holding company owned by Golden Gate Capital, a San Francisco-based private equity firm.
For the immediate future, Circuit City’s merchandising, supply chain, services and marketing teams will report directly to chairman/CEO Phil Schoonover.
Eight months seems like a reasonable amount of time to realize that you've been stick with an untenable position. Who can blame him for bailing out? It must have been grim if he was willing to quit, forgoing the severance package he could have expected if he had gotten himself fired.
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2 comments:
When the rats are deserting the sinking ship that's one thing - but when the cats are going overboard it's a "whole 'nother can 'o' peaches".
It is fun to watch Best Buy, Walmart, CC, ABC and all of the others compete away their margin with these tit-for-tat pricing strategies.
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