Circuit City Stores, Inc. Announces Departure of David L. Mathews

RICHMOND, Va., Nov. 6 /PRNewswire-FirstCall/ -- Circuit City Stores, Inc. today announced that David L. Mathews, executive vice president, merchandising, services and marketing, has informed the company of his plans to become president of Orchard Brands, a holding company owned by private equity firm Golden Gate Capital.

"I wish to thank Dave for his leadership and many contributions over the past several years, including growing the Circuit City Direct business and starting our catalog business," said Philip J. Schoonover, chairman, president and chief executive officer. "For the near term, the merchandising, supply chain, services and marketing teams will report directly to me as we start to execute our holiday sales plans."

"I am proud of the Circuit City team members for their hard work over the past few years," said Mathews. "The team has come a long way in transforming Circuit City into a true multi-channel retailer, and I feel that the company's best days lie ahead. The decision to leave was tough, but I have an exciting opportunity to return home to New England and join a leadership team growing a portfolio of direct businesses."

About Circuit City Stores, Inc.

Circuit City Stores, Inc. (NYSE: CC) is a leading specialty retailer of consumer electronics and related services. At August 31, the domestic segment operated 652 Superstores and 13 other locations in 158 U.S. media markets. At August 31, the international segment operated through 800 retail stores and dealer outlets in Canada. Circuit City also operates Web sites at www.circuitcity.com, www.thesource.ca and www.firedog.com.