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William J. Lansing has stepped down as chief executive officer of ValueVision at the request of its board of directors.

The board of the television home shopping channel has named John D. Buck, board chairman, as the interim CEO and has hired executive search firm Spencer and Stuart to help its find a replacement.

Meantime, the Minneapolis-based firm has lowered expectations for its fiscal 2007 financial performance.

The full-year revenue growth rate now is expected to be in the low single digits. ValueVision's previous full-year guidance was for a growth rate in the 6% to 8% range.

The company will release its third quarter results on Nov. 19.