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Posted in 2012 contender | 0 comments

RadioShack: James Gooch (CEO)

Why this is a big quit:

As increasingly more customers turn away from retail stores to make electronics purchases online, it is not surprising that RadioShack has underperformed for the past two years. To respond and to capitalize on the growing mobile marketplace, RadioShack refocused on selling smartphones over more profitable electronic items like cables. RadioShack did not have a successor to replace James Gooch immediately; so the future of RadioShack remains a big question mark. As the holiday shopping season closes, RadioShack may too.

Why it’s not as big as our Top 10:

James Gooch was only CEO for slightly over a year. Since he took over the CEO position in May 2011, RadioShack’s shares tumbled 83%. Even though the media reported it as a resignation, many believed Gooch was forced out because RadioShack continued to struggle and show sizable loss under Gooch’s leadership.