September 27, 2012, 11:34 AM

RadioShack loses its CEO

Jim Gooch led the retail chain since May 2011.

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RadioShack Corp. says that CEO Jim Gooch will leave the company. The consumer electronics chain retailer says Gooch and the retailer’s board of directors agreed Gooch would leave his job immediately.

Gooch joined RadioShack in 2006 as its chief financial officer. He was named president in January 2011 and CEO in May 2011.

Executive vice president and chief financial officer Dorvin Lively will act as interim CEO as the company searches for a new chief executive, the company says. Lively joined RadioShack in August 2011 from Ace Hardware Corp., No. 563 in the Second 500 Guide, where he also was chief financial officer. He previously worked at Maidenform Brands Inc. and Toys ‘R’ Us Inc. (No. 29) in senior management roles.    

RadioShack is No. 275 in Internet Retailer’s Top 500 Guide.

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