One of retail's most important IT executives—Circuit City CIO Mike Jones—has left the $11.6 billion chain, with the chief IT job going to his VP of business applications.

Jones had a creative and visionary perspective for the chain and a company statement left unclear the circumstances of his departure, although the phrase "to pursue other interests" was used.

The statement said Jones will relinquish his CIO role "immediately" but added that "he will remain at the company until mid-November to transition his duties to his replacement."

That replacement is William E. McCorey, Jr. The 48-year-old McCorey has worked in Circuit City's IT department almost continuously since 1991, departmenting briefly to serve as the CIO for 2nd Swing, according to a Circuit City statement.

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The 2nd Swing Web site said the chain is "going out of business" and "all stores closing soon."

A 2nd Swing employee—who asked to not have his name used—said the bankruptcy decision only happened a month or two ago.

As VP of business applications, McCorey was responsible for "implementing large-scale retail applications, including the company's new point of sale system and the merchandising systems transformation," a Circuit City statement said.

Circuit City today operates about 632 superstores and five other locations in 158 U.S. media markets, plus 949 retail stores and dealer outlets in Canada.

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The Circuit City statement quoted CEO Philip J. Schoonover thanking Jones "for his leadership and many contributions. He was an instrumental part of the turnaround efforts at Circuit City over the last three years." Schoonover added that he "wishes him all the best in his future endeavors."

The same statement included comments attributed to Jones.

"I am proud to be part of Circuit City's strong leadership team. I feel confident that our work to transform our company and systems is on track, making this a natural time for me to explore other business opportunities.

"I am also delighted to have such a capable and ready replacement in Bill McCorey. One of my rewards has been witnessing Bill's growth and leadership over the years."

Retail Center Editor Evan Schuman can be reached at Evan_Schuman@ziffdavis.com.

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