It's all on Julian Day now.
The former Kmart and Sears exec, hired last month to turn around the struggling RadioShack chain, said goodbye to Claire Babrowski, the former interim CEO and president and COO of the company, who will leave the company officially on August 31.
"Claire is an exceptional leader who was at the helm of our company during some very challenging times," said Mr. Day in a company press release. "In addition, she has been extremely helpful to me during my period of orientation at the company. She has immense talent and is in the prime of her career, and I respect her desire to transition out of the company to pursue other interests."
The company has no immediate plans to fill the role of president and COO held by Ms. Babrowski. Her departure follows the resignation last month by former CFO David Barnes.
James Gooch was named as the new CFO for RadioShack teaming him up again with Mr. Day. The two men previously worked together at Kmart and Sears Holdings.
Discussion Question: What should (will) Julian Day do to turn RadioShack around?
When his hiring was announced, RadioShack sent out a press release with the following quote from Thomas Plaskett, presiding director of the company's board of directors.
"Julian has a deep understanding of the retail industry in North America, and he is widely recognized for his ability to create value for shareholders at the companies where he has served. His extensive knowledge of retail operations and his experience in revitalizing some of the great American retail brands make him the ideal person to lead RadioShack as we re-establish its pre-eminent position in the industry."
There is no question Julian Day knows numbers and can make deals. That's a long way from suggesting he has any clue when it comes to bringing back a retail brand to its former glory. His tenure at Kmart and Sears are proof-positive (or should that be negative) of that.