AP News

News Summary: RadioShack's CEO leaves

THE NEWS: RadioShack said Wednesday its CEO James Gooch is leaving the company after just a year and a half in the post, effective immediately.

THE CONTEXT: The Fort Worth, Texas-based retailer has faced declining net income in the past two years. 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.

WHAT'S NEXT: The company has begun a search for Gooch's successor. Chief Financial Officer Dorvin Lively will serve as its interim CEO.

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