Another CEO Out at RadioShack

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

Filed under: 24/7 Wall St. Wire, Consumer Electronics, Corporate Governance, Management Change, Retail Tagged: featured, RSH