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RadioShack Picks Magnacca As New CEO

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FORT WORTH (AP) - RadioShack Corp. has chosen Walgreen Co. executive Joseph Magnacca to become CEO of the electronics retailer.

Fort Worth-based RadioShack made the announcement Thursday. Magnacca begins his new job on Monday when he’ll also join the RadioShack board of directors.

Magnacca was in charge of daily living products and solutions for Walgreen and is the former president of the New York-based Duane Reade chain. Walgreen bought Duane Reade in 2010.

James Gooch stepped down as RadioShack’s CEO in September after only a year and a half on the job. The company’s profits have fallen over the past two years as brick-and-mortar consumer electronics stores struggle against fierce online competition.

(© Copyright 2013 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

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