(Mona ((Mona Reeder/The Dallas Morning News))
RadioShack said Wednesday it has hired a former U.S. Treasury senior adviser to help it fix its business.
The Maeva Group will provide advisory services to RadioShack’s board of Directors and management as the retailer tries to turnaround its operations and finances.
Harry J. Wilson, founder and CEO of the Maeva Group, was named chief revitalization officer of RadioShack, reporting to RadioShack CEO Joe Magnacca and the RadioShack Board.
Wilson was a senior advisor in the U.S, Department of the Treasury and was a senior member of the Auto Task Force, which was responsible for the Treasury’s role in the restructuring of General Motors and Chrysler.
Wilson led a team responsible for the business and financial work of the task force and also led the team that completed the General Motors bailout.
“Harry Wilson’s experience in guiding companies through successful turnarounds speaks for itself and will be extremely valuable as we continue our efforts to revitalize the company. We welcome his insight and involvement,” Magnacca said in a statement.
Wilson said he believes RadioShack is worth saving.
“RadioShack remains an important retailer serving many key markets. While challenging secular trends have undermined its performance in recent years, we believe that there is a great deal of opportunity ahead of it.
“We look forward to working with the management team, the board, customers and vendors to help address these issues as quickly as possible and to revitalize the company,” Wilson said in a press release this morning.
RadioShack said earlier this year that it may have to restructuring in bankruptcy.