Private investment firm Comvest Partners acquires the financially troubled e-retailer, which filed for Chapter 11 bankruptcy protection in March.
Dias will step down as chief marketing officer on Aug. 27, but will continue through December as executive advisor of strategic branding initiatives.
After a rapid rise through the ranks, which included a stint as the company’s top e-commerce executive, Fiona Dias is stepping down as the chief marketing officer for Circuit City Inc., effective on Aug. 27.
From the end of August through December, Dias will assume a new role with Circuit City as executive advisor of strategic branding initiatives. She will assist in the transition of the chief marketing officer role and assist with select projects, including the planned launch of a new services brand later this year, the company says.
"I wish to thank Fiona for her leadership and many contributions, which include leading the explosive growth of circuitcity.com and driving our innovative multi-channel marketing efforts," says president and CEO Phil Schoonover. "I appreciate her commitment to ensuring a seamless transition of her current responsibilities."
Dias, also a Circuit City executive vice president, says she is stepping down for personal reasons. "I am proud to be part of Circuit City`s strong team and the continuing effort to transform the business,” she says. “Though my involvement as chief marketing officer is ending, I am as optimistic about the future of Circuit City as ever before.”
Circuit City is No. 17 in the Internet Retailer Top 500 Guide to Retail Web Sites.