September 26, 2012 / 11:19 AM / 6 years ago

RadioShack CEO steps down

(Reuters) - U.S. consumer electronics chain RadioShack Corp RSH.N said Chief Executive James Gooch will step down from his position, effective immediately.

A Radio Shack store is seen in Cambridge, Massachusetts April 28, 2008. The consumer electronics retailer posted a lower first-quarter profit on Monday as an increase in promotions hurt gross margins. REUTERS/Brian Snyder

The company’s said its board is conducting a search for a successor and would not rule out internal candidates.

Executive Vice President and Chief Financial Officer Dorvin Lively will be the acting CEO.

Reporting by Juhi Arora in Bangalore; Editing by Joyjeet Das

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