Outsted Circuit City CEO departing Richmond?

schoonoverRichmond has few recruiters who place CEOs of Schoonover’s pay level, and his skills would make him more of a national candidate.

Forgetting for a moment that former Circuit City CEO Philip Schoonover might have sold his Goochland home (BizSense has not confirmed it yet), one local recruiter says local companies will be hard-pressed to land him should he consider staying.

Richmond has few recruiters who place CEOs of Schoonover’s pay level, and his skills would make him more of a national candidate.

Not that it never happens. “Plenty of people make the transition from large, complex environments to small companies. And sometimes small businesses need that structure and those skill-sets transition well,” said Rich Reinecke, a recruiter with Career Quest.

But Schoonover might just need some time off. And he might want it out of Richmond, which could be associated with the company. (Contentious conversations at the deli line at Ukrop’s for example). Things haven’t exactly been going well at Circuit City, which has lost almost 63% of its stock market value in the last year, 94% in the last two years.

But sometimes executives stay in town even when their jobs ask them to move, Reinecke said, and then they generally search for local employment. “It’s such an easy place to live,” Reinke said. “I’ve seen a lot of folks from Genworth and Capital One leave an organization and give up compensation to stay in our marketplace.”

Schoonover was with the company for four years and with Best Buy before that. That makes him extremely well-suited for another job in the big box retail world, Reinke said.

One reason he might not stay is that local staffing firms generally don’t hire such highly paid executives. The upper end in town would be closer to $150,000 or $200,000, a third of Schoonover’s Circuit City salary, although stock options or profit sharing can start to close the gap.

As for the new guy at Circuit City, James Marcum has his work cut out for him. The National Retail Federation forecasts that holiday spending will rise just 2.2%, and some analysts are predicting that the weakest retailers will not survive a slow holiday season.

BizSense Editor Aaron Kremer was recruited to move to Richmond to work at the Times-Dispatch. He would have preferred to have been recruited to play Division I college basketball.

schoonoverRichmond has few recruiters who place CEOs of Schoonover’s pay level, and his skills would make him more of a national candidate.

Forgetting for a moment that former Circuit City CEO Philip Schoonover might have sold his Goochland home (BizSense has not confirmed it yet), one local recruiter says local companies will be hard-pressed to land him should he consider staying.

Richmond has few recruiters who place CEOs of Schoonover’s pay level, and his skills would make him more of a national candidate.

Not that it never happens. “Plenty of people make the transition from large, complex environments to small companies. And sometimes small businesses need that structure and those skill-sets transition well,” said Rich Reinecke, a recruiter with Career Quest.

But Schoonover might just need some time off. And he might want it out of Richmond, which could be associated with the company. (Contentious conversations at the deli line at Ukrop’s for example). Things haven’t exactly been going well at Circuit City, which has lost almost 63% of its stock market value in the last year, 94% in the last two years.

But sometimes executives stay in town even when their jobs ask them to move, Reinecke said, and then they generally search for local employment. “It’s such an easy place to live,” Reinke said. “I’ve seen a lot of folks from Genworth and Capital One leave an organization and give up compensation to stay in our marketplace.”

Schoonover was with the company for four years and with Best Buy before that. That makes him extremely well-suited for another job in the big box retail world, Reinke said.

One reason he might not stay is that local staffing firms generally don’t hire such highly paid executives. The upper end in town would be closer to $150,000 or $200,000, a third of Schoonover’s Circuit City salary, although stock options or profit sharing can start to close the gap.

As for the new guy at Circuit City, James Marcum has his work cut out for him. The National Retail Federation forecasts that holiday spending will rise just 2.2%, and some analysts are predicting that the weakest retailers will not survive a slow holiday season.

BizSense Editor Aaron Kremer was recruited to move to Richmond to work at the Times-Dispatch. He would have preferred to have been recruited to play Division I college basketball.

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