RadioShack Names New CEO

FORT WORTH (February 8, 2013)--RadioShack Corp. says it has chosen Walgreen Co. executive Joseph Magnacca as the next CEO of the electronics retailer.

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 (REED) chain.

Walgreen bought Duane Reade in 2010.

James Gooch stepped down as RadioShack's CEO in September after a year and a half on the job.

The Fort Worth-based company's profits have fallen over the past two years as brick-and-mortar consumer electronics stores struggle against fierce online competition.

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