Circuit City dismissing employees, directors

FROM TWICE: Marcum overseeing liquidation of assets

By Alan Wolf of TWICE -- Video Business, 3/18/2009

MARCH 18 | FROM TWICE: Circuit City will proceed with plans to terminate most of its remaining employees this month, and will cut the number of board directors from 11 to five as part of the company’s wind-down process.

Among those departing are three Circuit City officers: John Harlow, executive VP/chief operating officer; Reginald Hedgebeth, senior VP/general counsel and secretary; and Eric Jonas, Jr., senior VP human resources. The executives’ employment at Circuit City will end this Saturday, March 21, according to a filing with the Securities and Exchange Commission.

James Marcum, vice chairman and acting president/CEO, will stay on for an indeterminate period, along with VP/controller Michelle Mosier, to manage the liquidation of assets owned by Circuit City and its subsidiaries.

Read the full story on TWICE.com.