Circuit City turned in second quarter results that looked a lot like a black diamond ski slope. As reported in a previous Gadgetell article, drastic measures had to be taken with a sudden CEO change three weeks ago.

Hopefully, new CEO, James Marcum, is a good skier. Maybe you are one of the ones holding your breath about the future of the electronics retailer. Curious about what impending changes are eminent?

Keep reading to find out…

Circuit City’s CEO, Philip J. Schoonover, announced his resignation as president and CEO and is leaving the company immediately. Normally, when a company changes CEOs, there is a plan announced sometimes years in advance to keep the stock price afloat. Schoonover’s departure was not part of any such plan.

New interim CEO James Marcum said what you expect a new CEO to say, “It is my mission to direct that energy towards improving our operations and strengthening our market position in order to accelerate our turnaround and deliver improved results for all of our key stakeholders.” What else is he going to say? “I’m glad they gave me the keys to this dump?”