RadioShack Just Hired Its 10th CEO in 10 Years
As it tries to rebuild in its post-bankruptcy era, RadioShack has tapped a former CEO of Target Australia and CEO of Sears Canada to take over the electronics retailer.
54-year-old Dene Rogers will take over the company said Tuesday. He is the tenth CEO to take on the role in just 10 years. His predecessor, Ron Garriques, left before his first anniversary at RadioShack and was temporarily replaced with CFO Gordon Briscoe.
RadioShack filed for bankruptcy in 2015, after which it was bought by General Wireless an affiliate of New York hedge fund Standard General. The near century-old company hit its peak in the 1990s, though sales began sliding in the mid-2000s as consumers began to seek pre-assembled hardware in favor of the chain’s do-it-yourself spirit. Now the company is private and partners with Sprint to share showrooms.
“We will re-invent RadioShack’s business model to create a dynamic growth company,” Rogers said in Tuesday’s press release. The new CEO worked at Sears Canada from 2006 to 2011—a period in which the company became the most profitable online retailer in the country.
Roger Lavan, RadioShack’s chairman, noted that Rogers has plans to expand “the business into other segments of the market across a variety of platforms.”