Joe Magnacca, RadioShack’s last CEO while still a public company, has found a new job, and it’s not likely to violate his non-compete clause.
The retail veteran is taking a new career tack as CEO of Massage Envy, a franchiser of some 1,100 massage and skincare shops nationwide.
“I am truly excited to join this terrific business,” Magnacca said in a statement. “Massage Envy is a pioneer and leader in the wellness space. … I look forward to leading the team as we position the business for future and further success.”
The former pharmacy chain exec left a top post at Walgreens in 2013 to make a last-ditch turnaround attempt at RadioShack. But his ambitious road map required more time and money than lenders ultimately wanted to spend, and the revival became a rear-guard action until the spigots were shut and the company declared bankruptcy. It re-emerged last spring as a smaller, private chain operated by former lead lender Standard General and Sprint.