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RadioShack CEO Gooch steps down

Sep. 26, 2012 @ 11:11 PM

FORT WORTH, Texas -- RadioShack CEO James Gooch has agreed to step down immediately and is leaving its board of directors, the struggling consumer electronics company said Wednesday.

Chief Financial Officer Dorvin Lively will serve as its interim CEO while it looks for a permanent replacement, the company said.

RadioShack Corp. said that it is in the process of hiring an executive search firm to help find a new CEO and that it may consider both internal and external candidates. In July, RadioShack posted an unexpected second-quarter loss and suspended its dividend. The chain's troubles are partly due to wider problems in the brick-and-mortar electronics industry and add fuel to the notion that selling consumer electronics in brick-and-mortar stores is becoming less and less viable.

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