Ann Arbor, Mich. - Media retail store chain Borders (NYSE: BGP) on Monday announced that it has named Ron Marshall as its new president and CEO, replacing George Jones. Previously, Marshall founded private equity firm Wildridge Capital Management, and was CEO of Nash Finch Company. The shakeup comes as the company reported an 11.7% decline in total consolidated sales for the nine-week holiday period ended Jan. 3. The company also said it received notice that its shares are in danger of being delisted from the New York Stock Exchange, for violating both the minimum $1 share price requirement, and market capitalization standard.

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