RadioShack CEO Gooch Steps Down
NEW YORK (TheStreet) -- RadioShack (RSH) CEO James Gooch has stepped down, according to a statement released before market open by the struggling electronics retailer.
The company's board and Gooch have agreed that Gooch will step down from his positions as CEO and director of the company, effective immediately.
Investors responded positively to the news, pushing shares of the Fort Worth, Texas-based firm up 1.95% to $2.61 in premarket trading. Shares of RadioShack, which competes with Best Buy (BBY) and Wal-Mart (WMT), have slumped more than 73% this year.
RadioShack's board is in the process of retaining an executive search firm to find a new CEO, and will consider both internal and external candidates, it said. Dorvin Lively, RadioShack's chief financial officer, will serve as interim CEO.
"We thank Jim for his service to the Company and wish him well in his future endeavors," wrote Daniel Feehan, RadioShack's non-executive chairman of the board. "I would like to thank my colleagues on the Board and everyone at the Company for their strong support," added Gooch. "I wish them all great success in the future." --Written by James Rogers in New York. Follow @jamesjrogers >To submit a news tip, send an email to: tips@thestreet.com.Select the service that is right for you!
COMPARE ALL SERVICESAction Alerts PLUS
TRY IT FREEJim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
Product Features:
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Dividend Stock Advisor
TRY IT FREENew! $49.95/yr
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
Product Features:
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Stocks Under $10
TRY IT FREEDavid Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.
Product Features:
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
- Weekly roundups
Real Money
TRY IT FREE24/7 market commentary from Jim Cramer and 20+ veteran Wall Street gurus. Get access to the latest trading ideas on stocks, options, and ETFs as well as a real-time forum to see the pros exchanging their investment ideas.
Product Features:
- Jim Cramer + 20 Wall Street pros
- Intraday commentary & news
- Real-time trading forum
- Actionable trade ideas
Real Money Pro
TRY IT FREEAll of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
Product Features:
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Options Profits
TRY IT FREEOur options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
Product Features:
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV
