July 2, 2009 (FinancialWire) — EDCI Holdings, Inc. (NASDAQ: EDCI), the holding company for Entertainment Distribution Co., Inc. said that Robert L. Chapman, Jr. has resigned as the company’s chief executive officer. Chapman, who also has resigned from EDCI’s board, had replaced interim CEO Clarke H. Bailey, who himself now replaces Chapman as EDCI CEO and EDC interim CEO.

Chapman joined EDCI’s board as an independent director in November 2007, and is the managing member of Chapman Capital L.L.C., an investment advisor focusing on activist investing and turnaround investing.

Prior to founding Chapman Capital in 1996, he co-managed the value group within Scudder Stevens & Clark, which followed employment with NatWest Securities USA and Goldman, Sachs & Co.

Bailey joined EDCI’s board in December 1990. From September 2008 to January 2009, he served as EDCI’s interim CEO, after serving as EDCI’s CEO from October 2003 to November 2006 and from December 1990 to March 1994.

He has served as chairman of EDCI’s board since October 1999, following his service as EDCI’s vice chairman from November 1992 to June 1996. Currently, Bailey serves as a director on the boards of both Iron Mountain and ACT Teleconferencing.

New York-based EDCI Holdings is the holding company for Entertainment Distribution Co., Inc., a European provider of supply chain services to the optical disc market.

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