Circuit City CFO Foss to Leave in April
Circuit City announced today that Executive Vice President and CFO Michael E. Foss will be leaving the company in April to take a position at a private equity-owned retail company, where he will again serve as CFO. Until June, Foss will remain on the board of directors. The search for a replacement has begun.
Said Philip J. Schoonover, chairman, president and CEO of Circuit City Stores, “Mike has done a tremendous job during his three and a half years at Circuit City, and we are a much stronger company for his many contributions.”
Foss added, “The decision to leave Circuit City was not easy, as I believe the best is yet to come. Our work over the past few years has reinvigorated and refocused the company in ways that will become increasingly obvious to customers and shareholders. That said, I have an opportunity not unlike Circuit City a few years ago, and I am excited to pursue a new challenge.”
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