Blockbuster CEO Ousted

7-Eleven CEO Steps In

Blockbuster announced last week that it would close 282 stores. Last year, it closed 290. And today, move over CEO John Antioco and hello to replacement, 7-Eleven's CEO, Mr. James Keyes. Mr. Keyes ran 7-Eleven from 2001 to 2005.

Blockbuster stores have been fighting for their lives to stay on top of disruptive technologies of on-line and on-demand distribution (read NetFlix). 

The Wall Street Journal ($$) reports, "When asked whether the company would hold to Mr. Antioco's plans to roll out an electronic movie-delivery option this year and to run the online business profitably starting in 2008, Mr. Keyes said he would be "revisiting the entire strategy...and will be establishing some additional milestones."

Mr. Keyes, an innovator of tight inventory control at 7-Eleven observed that technology innovations could include better customer-data tracking to enable Blockbuster to expand its merchandise and services in stores and online.

Could be, but the downloading of online video is here to stay, whether Blockbuster stores keep track of customers' needs or not.

Read more