Struggling retailer HMV today confirmed that its finance director is heading for the exit just two days after chief executive Simon Fox quit.
David Wolffe, who joined HMV only 18 months ago from ITV, will leave once a successor has been appointed.
HMV, which has been hit by online retailers and supermarkets discounting best-selling DVDs and CDs, is expected to reveal annual losses of £16 million this week.
The company has appointed turnaround specialist Trevor Moore to succeed Fox as chief executive. Moore, who is credited with rescuing camera chain Jessops, will take over from Fox on September 3.
Fox is entitled to a pay-off of up to a year's basic salary of £499,000, although payments will stop if he finds another job.
He will not be paid a bonus.
