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.
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