RadioShack's store operations executive resignsApril 22, 2014
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NEW YORK (AP) — RadioShack, which recently announced that it plans to close up to 1,100 stores, says that Troy Risch, its executive vice president of store operations has resigned.
In a filing with the Securities and Exchange Commission, RadioShack Corp. said that Risch resigned on Friday to pursue other interests. The retailer said Risch's duties will temporarily be handled by other managers, effective immediately.
Last month RadioShack said that it plans to close about a fifth of its U.S. locations. The closings would leave the company with more than 4,000 U.S. stores. That's still far more than Best Buy, which has roughly 1,400 U.S. locations, and makes RadioShack stores nearly as common as Wal-Mart locations.
RadioShack has been fighting to update its image and compete with online and discount retailers. Long known as a destination for batteries and obscure electronic parts, the company has sought to remake itself as a specialist in wireless devices and accessories. But growth in the wireless business is slowing, as more people have smartphones and see fewer reasons to upgrade.
Aside from slashing costs and shuffling management, RadioShack has been renovating its stores with a more modern look.
Shares of RadioShack gained 5 cents, or 3.5 percent, to $1.50 in premarket trading on Tuesday shortly before the market open.