Shareholder group calls for ouster of entire Circuit City board
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A shareholder group has proposed the ouster of the entire corporate board at Circuit City Stores Inc., the electronics retailer that has struggled to maintain market share.
Wattles Capital Management on Friday proposed a clean sweep at the nation’s No. 2 consumer-electronics retailer just days after the group nominated five members for Circuit City’s 12-member board.
Investor Mark J. Wattles, the group’s principal and founder of the Hollywood Entertainment video-rental chain, has criticized Circuit City’s restructuring and turnaround attempts.
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