RadioShack loses EVP of store operations

RadioShack (NYSE:RSH) said Tuesday that Troy Risch, EVP, store operations and real estate, has left the company to pursue other interests. Risch's duties will be temporarily assumed by other members of management, effective immediately. He resigned on April 18, according to an SEC filing placed Tuesday.

Risch's resignation comes as RadioShack seeks to close 1,100 locations, or about a quarter of its store base. The decision to close stores is part of a comeback effort for RadioShack, which most recently reported a loss of $400.2 million in fiscal 2013 and $191.4 million in its fourth quarter.

Risch was hired in December 2012. He was one of five top executives who were promised retention bonuses under a new agreement with the board in March. To receive the bonus, $275,000 in Risch's case, the executive had to stay with the company through March 1, 2015.

Prior to joining RadioShack, Risch served in a number of leadership roles during his 19-year tenure at Target (NYSE:TGT). At Target, he started out as a store manager and moved up to executive vice president of stores from 2006-2011.

RadioShack's leadership team has seen several shakeups since CEO Joseph Magnacca took the helm in February 2013. In January, the company announced John Feray as RadioShack's new CFO, replacing interim CFO Holly Etlin and former CFO Dorvin Lively, who left last July.

For more:
-See this Wall Street Journal article

Related stories:
The 'new' RadioShack features in-store mobile integration
RadioShack opens two new concept stores  
RadioShack to close 1,100 stores amid plummeting sales
Can RadioShack re-invent itself, again?
RadioShack reports $112 million loss, confirms new financing 

 

Suggested Articles

Costco changes up its menu items, and Alibaba and Guess partner for a physical store.

Janey Whiteside, Walmart's new chief customer officer, is well acquainted with the importance of customer service in modern retail.

Whole Foods will offer deals on Amazon's Prime Day, and tariffs against China are causing pricing hikes.