Musicland Names Michael J. Madden Acting CEO
Musicland Holding Corp., a leading entertainment retailer, announced that it has named Michael J. Madden as president and acting CEO upon the resignation of Jack Chadsey, who is leaving to pursue other interests.
"While we are disappointed to see Jack leave, we are grateful to have Mike and a strong management team in place," said Sun Capital Partners, Inc. Managing Director Scott King, "We are confident in this team's ability to persevere during the current industry challenges."
Madden's retail experience spans more than 30 years including: 20 years with American Stores Corp; 13 years with Toys R Us where he served as president of US Operations from 1996 to 1999; and from 1999 to 2001, he served as president and COO of Trans World Entertainment. He operated his own consulting, sales and marketing business from 2001 until joining Musicland in July 2003 as president and COO.
"I am honored to lead this organization of dedicated, hard-working people," said Madden. "Turnaround is never easy, but we are focused on the growth of our core categories, while expanding new businesses, such as Graze."
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