RadioShack hires new chief financial officer from Dollar General
01/13/2014 5:29 PM
01/14/2014 8:10 AM
RadioShack has added another retailing veteran to its executive team.
John W. Feray, previously a senior vice president at Dollar General, will join the Fort Worth-based consumer electronics chain as executive vice president and chief financial officer on Feb. 6. He’ll replace Holly Etlin, a consultant with AlixPartners who has served as interim CFO since last summer when former CFO Dorvin Lively left the company to join Planet Fitness. Etlin will continue to work with the company.
RadioShack CEO Joseph C. Magnacca, who has been rebuilding the executive team since taking the reins nearly a year ago, said, “We are extremely pleased to have a finance professional with John’s experience join us as we move forward with our turnaround plan.”
Over the last year, Magnacca, a former Walgreens executive, has hired several new executives with retail industry experience including Paul Rutenis, formerly of J.C. Penney, as chief merchandising officer; Janet Fox, formerly of Under Armour, as senior vice president of global sourcing; Jennifer Warren, a marketing specialist who worked with various brands, as chief marketing officer; and Michael DeFazio, a former colleague at Walgreens, as senior vice president for store concepts.
Before joining Dollar General, where he was senior vice president-finance and strategy since 2008, Feray served as senior vice president and chief financial officer of First American Payment Systems and spent several years as senior vice president and chief financial officer of Dallas-based Haggar Corp.
According to a Securities and Exchange Commission filing, Feray, 47, will be paid an annual base salary of $550,000 and receive a signing bonus of $450,000, to be paid within two weeks of his start date. He will also receive 250,000 shares of restricted stock and stock options on 600,000 shares.
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