FOR IMMEDIATE RELEASE
RadioShack Corporation Announces New Management Team Structure that Simplifies Reporting, Narrows Accountability, Improves Decision Making
Four Executives Promoted to Executive Vice President
FORT WORTH, Texas (March 16, 2006) – RadioShack Corporation’s (NYSE: RSH) President, Chief Operating Officer and Acting CEO Claire Babrowski announced today the promotion of four executives to Executive Vice President, along with a new management team structure that simplifies reporting, narrows accountability and facilitates faster decision making. The executive promotions include: David Barnes, EVP and Chief Financial Officer; Jim Hamilton, EVP of Marketing and Merchandising; Jim Fredericks, EVP of Administration; and Joe Formichelli, EVP of Retail Operations.
“Given the turnaround plan that we announced last month and my new role in the company, it was imperative that we have a management team structure that ensures efficiency, accountability and faster decision making,” said Babrowski. “The execution of our turnaround plan is the single most important task we have at hand, and it requires intense focus by capable and competent senior leadership. I am proud of the team we have assembled at RadioShack and believe we are well positioned for a successful turnaround.”
Barnes joined RadioShack in April of 2005 as Senior Vice President and CFO. His prior experience includes serving as chief financial officer of Coors U.S., a position he held from 2002 to 2005. He also served on the board of directors of several affiliated companies, including Rocky Mountain Metal Container, Coors Distributing Company and CerMex. Barnes oversees RadioShack's finance, treasury, accounting and investor relations functions.
Hamilton rejoined the company in October of 2003 as Vice President, Global Sourcing, where he was responsible for the sourcing and procurement of all products (foreign and domestic) in all RadioShack sales channels. He was promoted to Senior Vice President and Chief Merchandising Officer in January of 2005. Prior to that, Hamilton was CEO and co-founder of Identity Ventures, Inc., a global high-tech consulting company. Hamilton was previously with Computer City from 1994 to 1996 when it was a division of the Tandy Corporation (now RadioShack Corporation) where he served as Vice President General Merchandise Manager. He currently sits on the board of industry leaders with the Consumer Electronics Association. Hamilton now oversees all merchandising and marketing for RadioShack.
Fredericks joined RadioShack in March of 2005 as Senior Vice President and Chief Human Resources Officer. His prior experience includes serving as vice president–human resources, Coors Brewing Worldwide, and vice president–global rewards, Coors Brewing Co. Prior to joining Coors in 2001, Fredericks held numerous progressive human resources management positions including Nike Inc., Beaverton, Colo. He also has extensive experience in the consulting sector. Fredericks now oversees several staff functions including Human Resources, IT, Communications and Project Management.
Formichelli joined the company in January of 2005 as president of Strategic Services Solutions, Inc., for RadioShack Corporation. Prior to joining RadioShack in 2005, Formichelli was CEO and senior partner with Core Strategies, a consulting company. He has served in various executive capacities with companies such as, Gateway, Toshiba Computer System Group, ClearCube Corporation, Hayes Microcomputer, and IBM Corporation, where he was the general manager/vice president and led the successful execution of the IBM ThinkPad brand of notebook computers. Formichelli is now responsible for the company’s sales channels and supply chain function.
Babrowski also announced the appointment of two new members of senior management who will hold key positions within the company. Tori Moore-Binau will be joining the company later this month as Senior Vice President of Marketing. She most recently was senior director of U.S. marketing for McDonald’s Corporation. Binau also served as senior director for global marketing for McDonald’s Corporation. Prior to that, she was vice president of account service for Fahlgren Advertising.
Cara Kinzey will join the company later this month as Senior Vice President of Information Technology. Kinzey has spent her career in progressive management positions with Wal-Mart, having served as vice president of membership, member services and credit for SAM’S CLUB. Prior to that, she served in a range of positions for Wal-Mart’s Information Systems Division, including vice president of HR/Finance/Corporate Systems an d director/vice president of Store/Specialty/Treasury Systems.
The appointment of Binau and Kinzey round out the company’s senior management team.
“We now have a wonderful blend of talent on our senior team. We have seasoned senior leaders with prior experiences who can bring fresh perspectives to the business, and we have executives with years of solid RadioShack experience. I believe we are well balanced with top talent who can execute job number one – our turnaround plan.”
About RadioShack Corporation
Fort Worth, Texas-based RadioShack Corporation (NYSE: RSH) is one of the nation’s most trusted consumer electronics specialty retailers and a growing provider of a variety of retail support services. The company operates through a network of sales channels, including: nearly 7,000 company and dealer stores; more than 100 RadioShack locations in Mexico and Canada; and nearly 700 wireless kiosks. RadioShack’s knowledgeable and helpful sales associates deliver convenient product and service solutions within minutes of where 94 percent of all Americans either live or work. For more information on RadioShack Corporation, visit www.RadioShackCorporation.com. To learn more about RadioShack products and services or to purchase items online, visit www.RadioShack.com.
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RadioShack Media Relations
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