RadioShack Has a New CEO: Now It Needs a New Strategy
On Thursday afternoon, struggling consumer electronics retailer RadioShack announced that it has appointed a new CEO, Joseph Magnacca. Magnacca is currently an EVP at Walgreen, responsible for marketing and merchandising at the drugstore chain. According to RadioShack’s SEC filing this morning, Magnacca will have a base salary of $1 million with a target bonus equal to 120% of that amount, and will also participate in a long-term incentive bonus program. Magnacca will receive a $1 million signing bonus this month, and will also receive 500,000 restricted stock units over three years.