Bloomberg News

RadioShack Names Dollar General’s Feray Chief Financial Officer

January 13, 2014

RadioShack Corp. (RSH:US), the electronics chain that’s posted seven straight quarter (RSH:US)ly losses, named a Dollar General Corp. executive as its chief financial officer.

John Feray will join as CFO on Feb. 6, the Fort Worth, Texas-based retailer said today in a statement. He’ll replace Holly Etlin, an interim CFO from consulting firm AlixPartners. Etlin will continue to work with RadioShack, the company said.

Feray joins RadioShack as Chief Executive Officer Joe Magnacca leads a turnaround effort to revive sales and lure back customers who have defected to big-box retailers such as Best Buy Co. and online competitors including Amazon.com Inc. Magnacca, who took over last year, plans to introduce new format stores and reduce the number of stocked items.

RadioShack fell 0.5 percent to $2.11 at 9:59 a.m. in New York. The shares (RSH:US) rose 23 percent last year.

Feray has served as senior vice president of finance and strategy at Dollar General since 2008 and helped shepherd its initial public offering the following year after the retailer was taken private by KKR & Co. in 2007.

RadioShack secured $835 million in new financing last year to provide additional liquidity.

To contact the reporter on this story: Lauren Coleman-Lochner in New York at llochner@bloomberg.net

To contact the editor responsible for this story: Robin Ajello at rajello@bloomberg.net


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Companies Mentioned

  • RSH
    (RadioShack Corp)
    • $0.86 USD
    • -0.03
    • -3.39%
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