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Retail

Another CEO Out at RadioShack

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By Jon C. Ogg Updated Published

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RadioShack Corp. (NYSE: RSH) could not make that full turnaround under CEO Julian Day, and now it is losing Day’s replacement. Call it a firing or a resignation if you will, but the net result does not matter. The troubled electronics retailer has announced that its board of directors and James Gooch have agreed that Gooch will step down from his positions as chief executive officer and director of the company.

No transition time, no nothing. The time frame is “effective immediately.”

The company said that it is in the process of retaining an executive search firm to assist in conducting a search for a successor and it has no intent on placing limitations on the search as far as internal or external candidates.

Dorvin Lively, executive vice president and chief financial officer, is listed as the person taking the interim role as acting CEO.

RadioShack closed at $2.56 on Tuesday and the 52-week range is $2.36 to $13.94. It is going to take a special person to run RadioShack, and a far more special person to turn this sick puppy around.

JON C. OGG

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About the Author Jon C. Ogg →

Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.

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