Fort Worth, Texas: RadioShack said Monday that chief financial officer John Feray resigned on Friday, citing personal reasons.
Feray was one of five top executives awarded retention bonuses ranging from $187,500 to $500,000 in March, shortly after the company announced it was considering closing as many as 1,100 stores. Feray received a $275,000 payout.
The consumer electronics chain, based in Fort Worth, Texas, is in the midst of negotiations to raise more cash while it considers a reorganization in bankruptcy. The company can’t stop its steep sales declines and last week reported losses that were more than doubled from a year ago.
The board appointed Holly F. Etlin as interim chief financial officer.