Garriques Out As RadioShack CEO - Twice

Garriques Out As RadioShack CEO

Chief revenue officer also departs
Author:
Publish date:
Social count:
0
Ron Garriques has stepped down as CEO of RadioShack after nine months on the job.

Ron Garriques has stepped down as CEO of RadioShack after nine months on the job.

Also leaving the chain is chief revenue officer Marty Amschler, the Fort Worth Star-Telegram reported.

Garriques, who previously served as president of Dell’s communications solutions and consumer products groups, and as president of Motorola’s mobile devices division, resigned his RadioShack post “to pursue other interests in a role that will put him back closer to his family,” the company said in a statement.

Garriques declared in November that RadioShack is “stronger than ever” while announcing its Black Friday promotions, and the chain, now privately held by hedge fund Standard General, credited him with “a successful repositioning … over the past year” in confirming his departure.

But the post-holiday exits of its CEO and finance chief suggest a less than stellar fourth quarter for the company, which was bought out of bankruptcy last spring.

Chief financial officer Gordon Briscoe will now also serve as interim CEO, and Amschler’s duties will be divided between Todd Schrader, who will serve as stores VP, and Tom Maria, who will serve as store operations VP, the hometown Star-Telegram reported.

Amshler joined RadioShack in 2009 from Kinney Shoe, and variously served as franchise VP and senior VP.

Garriques’ departure comes as his predecessor Joe Magnacca landed a new job as CEO of Massage Envy, a national massage and skincare franchise.

In other RadioShack news, RSH Liquidating trust, the former public company’s liquidation trustee, has accused Sony, Toshiba, Samsung, Philips and Light-On of six-year-long price fixing conspiracy that allegedly cost the chain millions of dollars in overpriced optical disk drives, International Business Times reported.

Also named in the trustee’s federal antitrust suit are Pioneer, Sharp, Panasonic, Hitachi, LG and TEAC, which acted as “co-conspirators” by facilitating the collusion, the complaint alleges.

Featured

Related Articles