FORT WORTH, Texas—RadioShack Corp.’s turbulent summer continued as Chief Financial Officer David Barnes said he will leave the retail chain to take a job with Western Union Holdings Inc.
No replacement was named for Barnes, who will remain with the company through an undefined “transitional period.” Barnes is expected to join the Denver-based subsidiary of First Data Corp. in August.
“This is a terrific opportunity for David,” RadioShack CEO Julian Day said in a prepared statement. “We expect a smooth and orderly transition of finance functions.”
But the move was the latest in a series of significant developments for Day, who came onboard two weeks ago after dubious resume claims forced the departure of former CEO Dave Edmondson. RadioShack last Thursday announced it would no longer hold quarterly conference calls to discuss earnings reports for analysts and investors, raising eyebrows among those who follow the company. And a private investment group last week said it had purchased 5.6 percent of the company’s shares in a move that could lead to pursuit of a board position.
Day, who is credited with reviving Safeway Inc. and Kmart, will handle all finance functions until Barnes’ replacement is named. Shares of the company inched upward following news of Barnes’ departure, however, climbing 46 cents, or 3 percent, to $16.15 by mid-day.
