New York -- RadioShack is enlisting specialty retail industry veteran John W. Feray to help the company execute its turnaround strategy and has appointed him executive VP and CFO, effective Feb. 6.
Feray joins RadioShack from Dollar General, where he has been SVP of finance and strategy since 2008 under both private equity ownership and as a public company. With responsibility for financial planning and analysis, long-term strategic planning, real estate market planning and operational improvement activities, he has been credited as a key contributor to Dollar General's growth.
"We are extremely pleased to have a finance professional with John's experience join us as we move forward with our turnaround plan,” said CEO Joseph C. Magnacca. “John worked as a key member of the finance team that was responsible for the significant financial improvement at Dollar General, and has the strong operational orientation needed to contribute to our strategic efforts. We will benefit from his leadership and insight as we look to increase our operational efficiency and re-build the business in 2014 and beyond."
"I look forward to working with Joe and the entire RadioShack team on the transformation of this iconic American retailer,” added Feray. “I believe my experience at Dollar General is directly applicable to RadioShack and I am delighted to have the opportunity to help the company accomplish the turnaround plan that is underway."
Prior to joining Dollar General, Feray served as senior VP and CFO of First American Payment Systems. Before that he spent several years as senior VP and CFO of Haggar Corporation, the menswear manufacturer and retailer. During his tenure, he oversaw Haggar's transition from a public to a privately owned enterprise. He has an extensive background in financial management which began at Arthur Andersen where he served as an audit manager. Feray is a graduate of Sam Houston State University and a certified public accountant.
Feray is the latest addition to the company's new leadership team, which in the last year, has included a new chief marketing officer and chief merchandising officer as well as senior VPs of store concepts, franchise, global sourcing, and inventory planning and allocation.
RadioShack's Interim CFO Holly Etlin will continue to work with the company as a member of the AlixPartners team advising the company on its operational turnaround.