By George Anderson
Things are certainly busy in Richmond, Virginia where the consumer electronics chain, Circuit City, finds itself the target of a takeover bid, searching for a new chief operating officer and getting ready to go it alone online after ending its deal for a storefront on the Amazon.com Web site.
Yesterday, Circuit City announced its vice president and COO, John Froman, had resigned from the company effective today. No replacement has been named to replace Mr. Froman who took responsibility for the company's operations in November 2001. He first joined the company in 1986.
The retailer also announced it was ending its storefront deal with Amazon.com, which originated in August 2001.
Saying the Web site has performed well since the deal with Amazon was initially inked, Fiona Diaz, president of Circuit City Direct added in a released statement, "We have been pleased with customer response to our own Web site and have elected to focus on growing the business through our own channel, rather than focus on the small amount of sales the relationship with Amazon.com has generated."
Moderator's Comment: What do you make of the latest announcements from Circuit City? What strengths should the company be building on as it moves forward? Where is it weak and what should it do to shore up those areas? - George Anderson - Moderator
- Circuit City Stores, Inc. Ends Relationship with Amazon.com - Circuit City Stores, Inc./ PRNewswire-FirstCall via COMTEX
- Circuit City Stores, Inc. Announces Resignation of John W. Froman - Circuit City Stores, Inc./ PRNewswire-FirstCall via COMTEX
- Circuit City Stores, Inc. Receives Acquisition Proposal From Highfields Capital Management - Circuit City Stores, Inc./ PRNewswire-FirstCall via COMTEX