RadioShack’s CFO Resigns Within Eight Months of Tenure

By Sarah Price - 15 Sep '14 12:08PM

John Feray, the chief financial officer of RadioShack Corp - the American electronics retail giant - has reportedly stepped down from his role just after eight months in the company.

RadioShack announced the departure of Feray Sept. 11, saying he stepped down due to personal reasons. The company has appointed Holly F. Etlin, a managing director at AlixPartners, as the interim CFO once again.

Feray was named the CFO of RadioShack in January this year, prior to which he served as the Senior Vice President-Finance and Strategy at the discount retail store Dollar General since 2008. He was roped in to steer RadioShack out of its financial woes, which still seem to persist.

At that time, CEO Joseph C. Magnacca said that Feray's expertise could help RadioSahack's turnaround plan and the company would "benefit from his leadership and insight as we look to increase our operational efficiency and re-build the business in 2014 and beyond."

Before joining Dollar General, Feray was the Senior Vice President and CFO at First American Payment Systems.

He also spent several years as the Senior Vice President and CFO of Haggar Corporation, the menswear manufacturer and retailer.

During his time at Haggar's, he oversaw the company's transition from a public to a privately owned company. He has great expertise in financial management as he first started off at Arthur Andersen serving as an audit manager. Feray is a graduate of Sam Houston State University and a Certified Public Accountant.

RadioShack recently said that it was running out of cash and could resort to bankruptcy protection. It's capital reserves reportedly fell to to $30.5 million in August, according to the wall Street Journal.

RadioShack is also considering a $585 million financing package led by hedge fund Standard General LP and investment, the publication added.