David Edmondson resigns as president and CEO of RadioShack

Just days after RadioShack announced plans to close down around 10% of their retail stores due to increasing losses; the company has announced that their president and CEO, David Edmondson has resigned from the top position.

David Edmondson came under pressure to resign after he admitted lying on his resume and the company failed to perform as per investor’s expectations. RadioShack also said in a statement that the decision was taken after a series of mutual discussions about what is best for the company and its constituencies.

The company also has no further plans to continue an outside investigation related to Edmondson’s resume. They had earlier said that they were hiring legal counsel to investigate the admission by Edmondson.

RadioShack admitted that the controversies surrounding the admission of David related to his resume was not a good idea for the company when they were looking at regrouping and closing down stores to get back to profitability. The company has now promoted Claire Babrowski to the post of president and acting CEO of RadioShack.

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