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Fort Worth, Texas -- RadioShack Corp. said CEO James Gooch has agreed to step down from his position, effective immediately. The company did not specify a reason for his departure. Gooch was appointed CEO in 2011 and has been working to boost stagnant sales.
RadioShack said its board is conducting a search for a successor and would not rule out internal candidates. In the interim, executive VP and CFO Dorvin Lively will serve as the acting CEO.
In July, RadioShack posted an unexpected second-quarter loss and suspended its dividend. The chain’s struggles are at least partly due to wider problems in the traditional consumer electronics industry.