RadioShack Corp. on Friday announced the appointment of former Kmart and Sears executive Julian Day as chairman and chief executive officer of the electronics retailer. Its share price rallied on the news.
Day, 54, replaces David Edmondson, who resigned in February because of questions about claims on his resume. Claire Babrowski, the company’s president and chief operating officer, has served as acting CEO since Edmondson’s departure.
Day most recently served as chief executive officer of Kmart Holding Corp., the former parent company of Kmart, which he led out of bankruptcy, RadioShack said in a statement.
“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,” Thomas Plaskett, presiding director for RadioShack’s board of directors, said in the statement.
Day’s previous positions included chief financial officer and chief operating officer at Sears, and executive vice president and chief financial officer for Safeway Inc.
Day will receive a base annual salary of $1 million, participation in the company’s bonus plans and stock options, the company said.
Fort Worth-based RadioShack operates more than 6,000 consumer electronic stores in the United States and more than 100 locations in Mexico and Canada.