CompUSA Overhauling Operations
by Alan Wolf -- TWICE, 2/23/2007
Dallas — CompUSA is undergoing a comprehensive restructuring under recently named president/CEO Roman Ross in an effort to streamline operations, reduce expenses and improve its competitive position in the marketplace.
As part of the overhaul, chief merchant Brian Woods has left the company and has been succeeded by recent recruit Gabriela Villalobos as executive VP/sales and operations.
Other senior executives are also being transitioned out, and a number of stores and regional offices may be closed.
Separately, chief financial officer Todd Whitbeck accepted a position with another company prior to the restructuring and has been succeeded by Mike Bryk.
A spokesperson for the privately held company described the leadership and structural changes as “comprehensive,” and said they were designed to improve CompUSA’s profitability and ability to compete in an increasingly challenging retail environment.
The restructuring follows reports that CompUSA parent Grupo Carso SA may issue $440 million in new shares through a holding company, U.S. Commercial Corp., to help shore up the ailing chain.
CompUSA has been struggling for several years to find a game plan within the commodity-driven PC market, including an ill-fated effort to enter the A/V category by acquiring the now defunct Good Guys chain. The company’s struggles were reflected in Ross’s appointment last August as its third chief executive within a year, and in reports that Grupo Carso principal Carlos Slim Helu had hired Credit Suisse Group in September to shop the retailer to private investors. — Additional reporting by Doug Olenick
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Too little too late... They shoulda trimmed the corporate fat years ago. Now a lot of good people (working in the stores) are out of a job. I'm glad all of the top exec's got fired and or demoted. They were making way too much money for the little work they DID do.
Matt - 2007-12-4 16:35:00 EDT -
What's sad is that the things happening now, were predicted by alot of us a long time ago. They did not change with the times and cut out programs that shot them in the foot later. The region I was in had too much of the "buddy system" going on to even get anything done. The only Manger that I saw that tried to get things done, even to the point of almost having to stand up to the regionals at the time, Jason Costello, he fixed the Bloomington store and made it function. When he left it's like they didnt care any more. It was nuts.
Dennis Ruple - 2007-20-3 13:57:00 EDT -
No surprise, I was there 98/99 in corporate training sales. They had a great opportunity to do some real damage if they would have stuck to it. The problem was they could not get out of the retail mind set.How ironic that they had the answer 10 years ago and just didn't get it.
Kevin McWhite - 2007-24-2 10:03:00 EST -
Most of the changes mentioned in this article happened LAST week. Today 40% of the staff at corporate was let go.
Kim - 2007-23-2 15:07:00 EST -
The article does not mention the 100's of layoffs going on today at Comp's corporate offices. Not just a few execs are getting canned....
Sam Jurek - 2007-23-2 12:21:00 EST
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