Changing of the guard at RadioShack; former Dell exec to head chain

New York -- A former executive of Dell Inc. has been tapped as the new CEO of RadioShack. Standard General, the hedge fund that bought 1,743 of the chain’s stores in bankruptcy court proceedings, has appointed Ron Garriques as the new head of RadioShack.



Garriques headed Dell's consumer and communications divisions and previously worked at Motorola Inc. He replaces Joseph Magnacco, who resigned Wednesday after two years as CEO.



Under RadioShack's approved bankruptcy plan, Sprint will operate dedicated in-store shops in most of the locations acquired by acquired by General Wireless (a newly formed affiliate of Standard General LPO. In a news release, Soo Kim, managing partner of Standard General, called the transaction “an important milestone in this storied company's history.



"It has allowed the company to shed stifling debts and unprofitable business lines,” Kim said. “The new company has now been reorganized around a solid retail franchise underpinned by a world-class mobility carrier, Sprint Corp.”