RadioShack chief resigns over resume controversy

Electronics retailer RadioShack Corp. announced yesteday that its President and Chief Executive, David Edmondson, has resigned in the midst of an investigation into credentials listed on his resume.

Edmondson, who became RadioShack's CEO last May after being groomed for the spot, admitted last week that he had "clearly" misstated his academic record on his resume and on the company's Web site.

RadioShack Executive Chairman Leonard Roberts said on a conference call that the company's board of directors decided Monday morning to accept Edmondson's resignation in the hopes that the market could focus again on the company's turnaround plan. "It's fair to say that it has been a 24-hour job for the last few days to really understand what the facts are," Roberts said. "It has been a very, very painful process for us."

The consumer electronics retailer named Claire Babrowski, most recently its Executive Vice President and Chief Operating Officer, as President and acting CEO while it launches a search for a permanent replacement. RadioShack has identified Babrowski as a top internal candidate for the job, but Roberts said other internal candidates may also arise.

The company also said it has immediately launched a nationwide search for anyone else who could fill the top spot.

Source: Media Network, Reuters

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