Radio Shack being pressured to get rid of CEO Dave Edmondson, who resigned Monday after confessing that he had lied about his academic record on his résumé, now must get about the business of cleaning up its tarnished image.
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“If I were in their shoes, I would be most worried about employees and the investment community, which sees a vacuum -- and hates a vacuum and uncertainty,'' said John Gilfeather, a vice chairman of Roper Public Affairs.
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“They've got to work on the relationships,'' he said. ``Keep lines of communications open. Don't say things are better than they are. Then when things start to turn around, the story will get out faster.''
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It didn’t help that at the time that Edmondson departed that the company had a 62 percent decline in their fourth- quarter profits and would be closing between 400 to 700 stores to cut back on costs.
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In cases like these there can be large departures by employees and resistance from potential recruits because of the uncertainty that they may be being hired by a team that may soon be let go.
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To stop the losses all the experts agree that the new CEO must have impeccable integrity. Not only because they should be, in and of itself, but now there will be a microscopic attention given to the candidate by the media and all others.
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Most agree if it is done right and thorough it could limit the possible bleeding of existing talent and hiring of new.
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