Radioshack is a retail store that was founded in 1921. The American retail store is a franchise in a few South American and European countries. Radioshack's CEO is in highlight due to recent rumors about the organization.
The company has been facing significant losses since its rise in 1999. The corporation had filed for Chapter 11 protection under US bankruptcy law after 11 subsequent quarterly losses. Later on, the company was bought by General Wireless Inc. in 2015.
General Wireless Operations Inc bought tangible, intangible, and intellectual assets for US$26.2 million. General Wireless Operations manages Radioshack stores and General Wireless IP Holdings LLC, which focuses on the management of intellectual property.
Radioshack CEO Steve Moroneso Wikipedia: Twitter Hacked Confusion
Radioshack's CEO is Steve Moroneso, who is taking the company's helm. The company's CEO has remained after a few changes and consecutive losses of Radioshack. Also, General Wireless's acquisition of the company might have brought a difference in the leadership.
Steve Moroneso is a responsible individual who has changed their attitude and belief toward the company by nudging it in a good direction. The company suffering from consecutive losses, encouraged hiring in different positions in 2018 after a decade of failure.
Furthermore, the company has come into the spotlight after the rumors of the Radioshack's Twitter account being hacked. Twitter posted an adult tweet that was unorthodox for a company to publish. That said, after enquiring about the circumstance, it was Radioshack itself that posted the tweet.
In addition, the company seems to be focusing in another direction to increase their company growth by trading in cryptocurrency. Cryptocurrency is often sold in digital space, but Radioshack seems to be providing physical services for consultation and understanding of the cryptocurrency value.
Radioshack CEO Steve Moroneso Age
Unfortunately, exact detail about his age has not been disclosed, but it can be speculated from the years of his service to the organization to his dated looks which provides the hypothesis of his age to be around 53-58 years old.
Steve Moroneso is a fit, passionate, and diligent individual who stuck with a set company and provided it with a better option for the acquisition. His talent seems to specialize in various markets, ensuring survivability and a competitive edge for the beloved store.
Moreover, Moroneso has been a powerful force in the organization, which has steered the firm's fate into something favorable for both customers and stakeholders of the enterprise. It has also helped the parent company, General Wire, to recuperate from its losses from acquiring the company.
Radioshack CEO Net Worth
Before Moroneso took the helm of the organization, Leonard H Roberts used to make $10.2 million. Mr. Roberts has been working with the company for 12 years. It was in its successful phase when the CEO maintained ints power.
"We are excited about the HobbyTown partnership, as it will allow us to reengage and directly serve our core hobby and DIY communities," said Steve Moroneso, CEO of General Wireless Operations, which owns the 97-year-old RadioShack brand. https://t.co/ZZTqod5zl8— Juan Milton de Leon (@JuanMilton) July 26, 2018
Moroneso might have likely had a few thousand dollars due to the lack of infrastructure and fundamentals, which seems to create this issue. Moroso might have received from $50,000 to $100,000 from its work with Radioshack.
However, an increment in profit is likely to have risen its net worth and yearly salaries; thus, the current CEO is expected to receive a decent wage after overcoming their pressing hurdle. It is not understandable that Radioshack's CEO is gaining significant gains from its parent company.
It is likely that a change in the market forces shall bring profit for the organization. Radioshack shall be able to recuperate past losses in its assets and fame, which shall help them be in business.