Company president Schoonover to take over in February
Circuit City has appointed a new chief executive as Alan McCullough reveals he is to step down from the helm of the company.

Company president Phil Schoonover is to take over as chief executive of the American electricals retailer following McCullough's retirement.

Schoonover, 45, joined Circuit City from Best Buy in October 2004. He will replace McCullough when he steps down at the end of February.

Lead director James F. Hardymon said: 'On behalf of the board of directors, I want to thank Alan for his accomplishments in building a new Circuit City. Today, Circuit City is better positioned to succeed in the future thanks to his efforts.'

McCullough, 56, joined the company in 1987 as general manager of corporate operations and has been a director of the company since 1999.

The group - which is based in Richmond, Virginia - employs about 46,000 people across the US.

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