Originally posted by sonhouse
"CEO résumé scandal"
So when did Radio Shack complete its total transition to a toy store? You used to be able to buy actual electronic parts but now there are only a few drawers with actual electronics in them and the rest of the real estate is devoted to toys. When did the transition happen?
"On February 20, 2006, the company announced that its CEO, David Edmondson, had resigned over questions raised about his résumé. The Fort Worth Star-Telegram discovered that he had not earned degrees in theology and psychology from Heartland Baptist Bible College as claimed on his résumé. RadioShack's board of directors stood up for Edmondson, but Edmondson admitted to the errors, calling them "misstatements", and resigned.
In wake of Edmondson's absence Claire Babrowski acted as CEO, chief operating officer and president for RadioShack. She had just joined several months prior, after spending 31 years employed with McDonald's Corporation, most recently as a vice president and Chief Restaurant Operations Officer. In 2006, Claire Babrowski left RadioShack, later to become CEO and Executive Vice President of Toys "R" Us.
RadioShack had also admitted that 2005 fourth-quarter earnings had fallen 62 percent after a switch in wireless providers led to an inventory write-down. The news sent the company's shares to an almost three-year low.
On July 7, 2006, RadioShack's board of directors announced it had chosen Julian Day, 54, to serve as chairman and chief executive officer of the company. Day had previously served in senior leadership positions at several large publicly traded retailing companies in the U.S. and had played a key role in revitalizing such companies as Safeway, Sears and Kmart.
On September 26, 2012, Jim Gooch stepped down as CEO of the company and resigned his position on the Board.
In the spring of 2006, RadioShack announced a strategy to increase average unit volume, lower overhead costs, and grow profitable square footage. In early to mid-2006, RadioShack closed nearly 500 locations. It was determined that some stores were too close to each other, causing them to compete with one another for the same customers. Most of the stores closed in 2006 brought in less than $350,000 in revenue each year." (wiki/radioshack)