RadioShack Corporation announced that its board of directors has chosen Julian Day, to serve as chairman and CEO of the company. Day has successfully served in senior leadership positions at several large publicly traded retailing companies in the U.S. and has played a key role in revitalizing such companies as Safeway, Sears and Kmart.
"Julian has a deep understanding of the retail industry in North America, and he is widely recognized for his ability to create value for shareholders at the companies where he has served," said Thomas Plaskett, presiding director for RadioShack Corporation's board of directors. "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."
Claire Babrowski, president and chief operating officer, was acknowledged by the board for her contributions in serving as acting CEO since February 2006.
Day's retailing experience includes leadership positions at Kmart Holding Corporation (formerly the parent company of Kmart Corporation), where he was elected as president and chief operating officer in March 2002 and was promoted to CEO in 2003. Day successfully took the company out of bankruptcy and led the company to substantially exceed its profit plans. Under his leadership, the company's value increased from U.S. $1.5 billion to $9 billion.
Prior to joining Kmart, he spent 2 years at Sears, first as chief financial officer and then as chief operating officer. As COO, he was a member of the Office of the Chief Executive and oversaw finance, logistics/supply chain, store operations, information technology and the company's business-to-business partnerships.
Before joining Sears, Day served as executive vice president and chief financial officer for Safeway, Inc., where he was responsible for financial, technology and real estate operations. While at Safeway, he strengthened the balance sheet and improved the company's credit rating, increased return on capital expenditures while tripling annual spending levels, and re-engineered the real estate development and construction process.
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