RadioShack Corporation has announced several changes to its management structure following the release of the company's fourth-quarter results. This may be of interest to individuals who wish to pursue a finance or marketing MBA.
Julian Day, chairman, chief executive officer (CEO) and a director of RadioShack, has announced his retirement. The company's board of directors has named current chief financial officer Jim Gooch his successor.
In addition, Daniel R. Feehan, the board's current director, will transition to the non-executive chairman of the board in an attempt to separate the chairman and CEO roles.
According to Feehan, Gooch played a key role in Day's success as RadioShack's CEO, as the two men worked together for nearly 10 years.
"I am delighted that in Jim we have a dynamic senior executive, well-known and respected by our stakeholders, who can effect a seamless transition and drive consistent growth in the business," Feehan added.
The company's fourth-quarter results for 2010 showed a 4 percent increase to $1.37 billion in total net sales and operating revenues. These numbers were driven by a growth in consumer demand for wireless platforms, according to company officials.