Duckworth named chairman.
In a surprise move, Source Interlink founder S. Leslie Flegel has resigned as chairman/CEO. No reason was given for his departure.
According to a company press release issued today (Nov. 13), the board named Michael Duckworth, a director of the company, as chairman.
Source Interlink will launch a search for a new CEO, but for now James Gillis, COO of the company, and Alan Tuchman, COO for the Alliance Entertainment subsidiary, will serve as interim co-CEOs.
The company's shares closed down 5 cents to $9.14 on Monday (Nov. 13).