Wall Street Likes RadioShack’s Personnel Move

Who says Wall Street pays no attention to talent acquisition?

RadioShack’s stock soared about 21% today as the company elected Julian Day chairman and CEO.

Rival Best Buy saw its stock dip slightly.

Day has been heralded in the business media today as a “turnaround specialist.”?He worked for Kmart as it emerged from bankruptcy. Previously, he was with Sears and with Safeway.

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He’ll be paid a base salary of $1 million. According to RadioShack, Day will also participate in the company’s bonus plans?and?receive “stock option grants to purchase 4 million shares of RadioShack common stock.”?

RadioShack has been using an interim CEO since the company’s chief resigned in February after apparently claiming he had college degrees that he did not.

The retailer recruits from, among other sources, the organization Students in Free Enterprise.

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