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Wattles seeks to stack Circuit City’s board

FROM TWICE: Controls 6.5% of retailer's stock

By Alan Wolf of TWICE -- Video Business, 2/26/2008

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FEB. 26 | FROM TWICE: Dissident investor and Ultimate Electronics owner Mark Wattles plans to nominate five directors for election to Circuit City’s 12-member board of directors at the retailer’s 2008 annual shareholder meeting in June.

Wattles controls 11 million shares, or 6.5%, of Circuit City’s common stock, which he amassed over the past three months. According to published reports, he is also seeking the ouster of Circuit chairman/CEO Phil Schoonover, who rebuffed a sit-down request to discuss the ailing chain’s strategy.

Read the full story on TWICE.com.



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