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Six days after being promoted to executive vice president at Walgreens, Joseph Magnacca was named CEO of RadioShack effective Feb. 11.
Magnacca oversees Walgreen’s marketing and merchandising operations across more than 8,000 stores, and was responsible for the company’s integration of Duane Reade, where he was president.
“Joe is a leader with significant experience in transforming iconic brand names into strong operating businesses,” RadioShack Chairman Daniel Feehan said in a news release. “We believe he will be a catalyst for change at RadioShack in refining our merchandising strategies, reinvigorating the shopping experience for our customers, and building sustainable value for our shareholders.”
“I am delighted to join RadioShack and to be part of this team as we build upon the strengths of such a great brand,” Magnacca said in the release. “I see advantages in being a small-box retailer in the consumer electronics space today, particularly with the broad retail footprint and convenience RadioShack offers its customers. I believe my experiences will help the team identify and execute on new opportunities that can return this great company to a position of prominence in the lexicon of American retailers.”