Gooch Begins CEO Tenure At RadioShack

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Fort Worth, Tex. - Retailers may soon be outsourcing their CE departments to RadioShack.

The chain, which is assuming operational control of Target's mobile business, said it is in talks with other retailers to provide the same turnkey service for their entire CE assortments.

Gooch, the president and chief financial officer of RadioShack, succeeds Julian C. Day, who is retiring from the company,

the Fort Worth Star-Telegram reported.

Outlining recent accomplishments, Gooch also noted that mobile had grown from 29 percent to 47 percent of RadioShack's total revenue since 2008.

In a statement during the meeting Gooch summarized RadioShack's financial and operational progress during 2010 and presented his priorities for 2011.

"Our accomplishments over the past five years have positioned us as a well-capitalized organization with a vast store network, contemporized brand and an improved product assortment driven by our growth in mobility," he said.

"Looking ahead, we remain focused on growing our core mobility and signature businesses, cultivating partnerships with other leading retailers, and pursuing selective opportunities for international growth."

Also during the meeting, shareholders elected the following seven directors to serve on the Board until the next annual meeting of shareholders in May 2012: Frank Belatti, managing partner, Equicorp Partners, LLC.; Daniel Feehan, president and CEO, Cash America International; H. Eugene Lockhart, partner, Diamond Castle Holdings; Jack Messman, private equity investor and consultant; Thomas Plaskett, chairman, Fox Run Capital Associates; Edwina Woodbury, president and CEO, The Chapel Hill Press.; and Jim Gooch.

In a separate session following the meeting, board members appointed Feehan to serve as non-executive chairman. He has served as presiding director of RadioShack's board since 2003.


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