Circuit City Names New Vice Chairman
Circuit City announced Tuesday that James A. Marcum has been named the company’s vice chairman. Already a director of the company, Marcum’s role will be to help “accelerate the pace of the company’s turnaround,” the company said.
Marcum was formerly CEO of Ultimate Electronics, the company headed by dissident Circuit City shareholder Mark J. Wattles., and joined the Circuit City board earlier this year as part of a compromise that avoided a Wattles-led proxy fight.
“The board and I selected Jim for this role because he is a highly-experienced retail turnaround executive,” company CEO Philip Schoonover said as part of the announcement. “I believe he will be a great partner to me and the rest of the management team as we focus on ways to improve our business.