RadioShack said Wednesday that its CEO is leaving under an
agreement with the board, the latest blow for the struggling
electronics retailer.
Fort Worth-based RadioShack Corp. said James Gooch will step down
immediately and is leaving its board of directors. Chief Financial
Officer Dorvin Lively will serve as its interim CEO while it looks
for a permanent replacement.
RadioShack has faced declining net income in the past two years.
The chain's troubles are partly due to wider problems in the brick-
and-mortar electronics industry - the notion that selling consumer
electronics in such stores is becoming less and less viable.
In its latest quarter, RadioShack reported an unexpected $21
million loss as its shift toward selling smartphones and their
accessories was not enough to offset a decline in demand in other
consumer electronics.
Gooch became CEO in May 2011 as part of the company's succession
plan. He joined RadioShack in 2006 as its CFO.
Shares of RadioShack are down 74 percent this year.
Most Popular Stories
- Emirati announces new film project at Cannes
- Promoter McLean 'provided more musical joy than Dylan and Prince combined'
- I never set out to be a role model but it's great to be one ; IN THE HOTSEATBetter known by his stage name Wretch 32, Jermaine Sinclair is a 28-year-old rapper from London. In 2011 his debut album Black and White sold over a million copies and scored three top five singles. His latest single Blackout was released this week
- Contra Costa Times Chuck Barney column
- The News & Advance, Lynchburg, Va., Casey Gillis column
- Entrepreneurs Chase Social Media
- European Car Sales up First Time in 20 Months
- Haitian music, culture take center stage at Compas Fest
- Gillian Anderson is fired up in 'The Fall', but Whicher is suspiciously dull ; The former 'X-Files' star channels her inner Helen Mirren in a new crime drama set in Belfast
- SET PHASERS TO DUMB Spock emotional and in love? Nonstop explosions? The highly illogical enterprise of J.J. Abrams' 'Star Trek'
News-To-Go
Advertisement
Advertisement
News Column
RadioShack CEO Steps Down
Sept. 28, 2012
Staff and Wire Reports
Advertisement
Source: (C) 2012 Tulsa World. via ProQuest Information and Learning Company; All Rights Reserved
Story Tools
