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Orchard CEO Resigns; Company Lays Off 20% of Staff

Authored by Mark Hefflinger on September 30, 2009 - 10:35am.
New York - The Orchard (NASD: ORCD), a digital distributor of independent music and video content, announced on Wednesday that president and CEO Greg Scholl has resigned, and additionally that the company has laid off 20% of its staff as part of a cost-cutting initiative. Scholl will remain on through the end of October, at which time Danny Stein -- an Orchard board member and currently also chairman and CEO of eMusic -- will replace him as interim CEO.
tags: Video | Music | Moves | The Orchard | Layoffs | Greg Scholl | Danny Stein |