RadioShack Suffers Gains and Losses
In the end, the summer was no vacation for RadioShack, while the company appoints James Gooch as executive vice president and chief financial officer, an executive who’s experience includes management roles in such corporations as Kmart, Sears Holdings, Helene Curtis and The Quaker Oats Company, the company loses COO Claire Babrowski when she announces her departure. Babrowski stepped up to temporarily act as president and CEO, after Dave Edmondson resigned following a controversy over false credentials on his education background months earlier. And later in the month, RadioShack divulges plans to reduce its workforce by anywhere from 400 to 450 positions. Employees at all levels are affected, mostly at the corporation’s headquarters in Fort Worth, Texas. Since detailing a turnaround plan in February, RadioShack has closed 480 underperforming stores nationwide.
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