Circuit City Director Resigns from Board
Richmond, Va. Circuit City announced that its lead outside director Mikael Salovaara resigned from its board, according to the Wall Street Journal.
Salovaara, who was chairman of the nominating and governance committee in addition to lead director, resigned just one day after Blockbuster Inc. said it was withdrawing its proposal to buy Circuit City Stores Inc.
Circuit City said in a filing with the Securities and Exchange Commission that Salovaara had no disagreements with the company.
The Wall Street Journal also said that Circuit City amended its bylaws to reduce the size of its board to 14 directors from 15.
Hot Topic President Resigns
City of Industry, Calif. Hot Topic Inc. announced that Michael Crooke, who was appointed the president of the company’s Hot Topic division on June 2, is no longer with the company.
In addition to her responsibilities as CEO of Hot Topic, Inc., Betsy McLaughlin has assumed oversight for the Hot Topic division.
Duckwall-ALCO Names President and CEO
Abilene, Kan. Duckwall-ALCO Stores has appointed Lawrence J. Zigerelli to serve as president and CEO.
Zigerelli has 27 years of domestic and international experience with companies such as Procter & Gamble, CVS and Meijer, where he served as president.