Quantcast
END OF AN ERA: RUSS SOLOMON STEPS DOWN
Tower Records Founder to Call It a Day; Interim CEO Betsy Burton Named
Russ Solomon, who founded Tower Records in 1960 and changed forever the way music is retailed, will step down from the company’s board and assume the title of Chairman Emeritus, the company announced today.

As part of the move, Tower President Michael Solomon has been named Chairman, and retail turnaround specialist Betsy Burton has been named interim CEO.

Over a 25-year operating management career, Burton has served as CEO of companies including Supercuts and PIP Printing. She has also served as interim CEO at Toysrus.com and iFlourish. She sits on the Boards of Staples Inc., The Sports Authority Inc., Rent-a-Center Inc. and Aeropostale Inc.

“Given the challenges we currently face, we have resolved to appoint an interim management specialist to produce improved profitability and create efficiencies throughout our company,” Tower Chairman and President Michael Solomon said. We firmly believe that Ms. Burton’s dynamic leadership skills and expertise will enable the company to produce results, strengthen our financial position and pave the way to future success. We are delighted that she will be joining the Tower family and welcome her as our new colleague.”

“I am looking forward to working with the Tower team to develop and execute a strategy to restore the company to financial health and long-term viability,” said Burton. “I fully recognize that these are challenging times for the industry and will work quickly to effect the necessary changes.”

Tower owns and operates 171 stores and has 56 franchise operations worldwide.

NEAR TRUTHS:
THE CAKE AND
THE CANDLES
Marketshare machers. (10/27a)
KENDRICK INKS WITH UMPG
Lamar enters the House of Jody. (10/27a)
YTD MARKETSHARE: AND THE WINNER IS...
It's a lock. (10/27a)
MAYBE, JUST MAYBE, PART 8,761: SURGERY IN THE TIME OF COVID
Planning for an Election Day hopped up on painkillers. (10/27a)
ONCE IN A LIFETIME
Vote. Do it now. (10/27a)
RAINMAKERS 2020
Bring your umbrella.
GRAMMY OUTLIERS
Mulling possible surprises.
HALLOWEEN IN QUARANTINE
Why not wear a mask indoors?
ELECTION 2020
What drugs will help us get there?
 Email

 First Name

 Last Name

 Company

 Country
CAPTCHA code
Captcha: (type the characters above)