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If that Los Angeles Times piece at the end of August is to be believed, Elm Street-based Blockbuster should be filing a prepackaged bankruptcy, oh, any day now. Question is: Does the latest bit of big news outta Renaissance Tower suggest Chapter 11’s forthcoming sooner than later? In a Securities and Exchange Commission filing today, Blockbuster announced that its chief financial officer and executive vice president, Thomas Casey, is outta there effective last Saturday. Casey resigned last week, walking out with a lump sum bonus of $100,000 and $7,000 in relocation expenses.
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Casey’s bio remains, for now, on the Blockbuster corporate governance page; he’s right below CEO Jim Keyes, who said upon his hiring in September 2007 that Casey “has been instrumental in helping some of the world’s largest companies successfully formulate their financial and strategic business plans for the future.” In today’s filing, Blockbuster has announced his replacement: Dennis McGill, the CFO at Plano-based Safety-Kleen. From the looks of The Google Machine, McGill’s previous entertainment-biz experience dates back to his days at Hastings.
There’s been no Official Release or Statement from Blockbuster about Casey’s adios. When I asked Blockbuster spokesperson Patty Sullivan if one’s a-comin’, she responded thusly moments ago: “There is no statement beyond the information in the 8-K. His three-year term ended on September 11 and a new EVP and CFO was hired — Dennis McGill.”
