RadioShack CEO steps down immediately

RadioShack CEO steps down immediately

Summary: RadioShack is now on the hunt for a new chief executive as Jim Gooch steps down.

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RadioShack has weathered a lot of storms in the last few years, and the electronics retail chain could go either way at this point now that it's lost another chief executive.

CEO Jim Gooch has stepped down from his post, effective immediately, according to a statement published by RadioShack on Wednesday. He became CEO in May 2011.

Although a reason was not specified, the release did stipulate that both RadioShack's board of directors and Gooch agreed that he would step down as CEO and director.

Gooch's profile has already been removed from RadioShack's executive management list.

For now, RadioShack's chief financial officer Dorvin Lively will serve as interim CEO, working under the board's oversight while it embarks on a the search for a successor. RadioShack's board acknowledged that the search could include internal candidates.

While big box retailers like Best Buy and online giant Amazon have really dominated the consumer tech market in the last few years, there is still room for opportunity for RadioShack with the right direction and leadership.

RadioShack has tried various schemes such as selling iPhones for a few bucks less than competitors to get people in the doors, but often times its prices are more expensive.

But really, that could work for RadioShack as some of its locations often fit a void in the same way that corner stores do for large grocery markets. It's more of a convenience store for tech than anything else.

The problem for the next CEO of RadioShack will be striking a balance between that and the sheer cost savings found with online retailers, which might not be able to deliver as fast as buying something in a brick-and-mortar store, but most of the time that probably doesn't matter.

Topics: Tech Industry, Consumerization

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11 comments
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  • Sad

    The place used to be cool, with electronic parts, science kits, etc...

    It's changed a lot... it feels more like any token generic electronics store, only smaller... and more overpriced... it was overpriced in 1994...

    And technology automating more and being embedded in products out the door, why buy a car radio? The integrated one has everything; the niche markets that want more aren't going to sustain the company, even if product quality goes down compelling more re-purchases... worker wages have stagnated and dropped and people returning to college for the dream of remaining in the middle class has gone up, as has college tuition, while jobs continue to vanish... without customers, in case people hadn't figured it out yet, NO company will be able to survive in the end...

    With market forces prevailing, it is too optimistic to say that the right leadership will save it. People elected Obama in 2008 and nothing's improved, and he has the means to bypass congress if congress prefers to sit there and prop up the status quo.

    Granted, that's not the ideal parallel, but maybe the right leadership will say how it can turn Radio Shack forward...

    Let's just get to the big picture: The New World DisOrder isn't working.
    HypnoToad72
    • I remember the old radio shack too

      I used to love playing with those electronic kits. It inspired me to get into engineering.
      otaddy
    • No one is listening Toad

      Until trouble comes to their doorstep.
      klumper
  • You'll just get forked

    I do hope that you are not expecting some politician to make the world a better place for you. I know they all say they can do that, but trust me: once they have your vote, they won't respect you in the morning.

    If humans knew how to create Paradise, we'd live in Paradise. That we don't is one of the Big Clues.
    Robert Hahn
    • Right (and I do agree with you regarding politicians)

      So in the meantime we turn to these obscenely profitable corporations to make the world a better place, or at least provide jobs to their own (oh that's a laugh), and get screwed over by them. Every bit as much.

      Picture a twin headed dragon on the march, serving up candy and trinkets to nameless, faceless techno buttheads the world over.

      Oh but wait! They say Bill Gates has ditched his bullwhip and morphed into Mother Teresa. The world is renewed! We have a chance! Hallelujah!
      klumper
  • Hobby parts

    I grew up getting parts for projects at Radio Shacks. Now they have el cheapo toys, very few parts and people that have no idea what I am looking for.
    MoeFugger
    • All gone

      Where would you go these days to buy a diode? Or a 2N404? Or even an NE555? What would you put them in if you could get them?
      Robert Hahn
      • Yeah its another world today

        And somewhat of a shame cause everything is so small that its like a black box.
        I remember the days of making my own printed circuit boards.
        otaddy
      • Well . . .

        Well, I wanted to buy a switch for my PC a while ago to turn off the otherwise eternally on case lights. I prefer to sleep in the dark.

        And their kits were very educational. Sad to see that in an age where electronics are becoming increasingly vital that we're increasingly not educating our kids how they work.
        CobraA1
        • Same thing happened with vehicle repair years ago

          The more we techno advance, the dummer, er, dumber, we, all get,... . uh
          klumper
  • Lost its roots

    Radio Shack used to be a geek store. It was where not only could you find the latest but you could build the latest. It's employees knew technology and could help their customers choose and build the very latest.

    Now you have minimum wage clunks who know nothing other than what is listed on the box. You're not just talking about finding a new CEO, you're talking about rebuilding the stores from the ground up. As long as they have brick and mortar stores they will need knowledgeable people manning them and carry the products to support their expertise.
    shanedr