Radio Shack Ablaze, CEO Resigns

David Edmonson stepped down yesterday as CEO of Radio Shack.

Only days ago he said he would stay on, even after he admitted to claiming two degrees on his resume when he really had zero.

For his troubles, Edmonson received something less than $1 million in severance pay.

“When our company’s credibility becomes based on a single individual, it is time for a change,” announced Leonard H. Roberts, the company’s executive chairman, who chose Mr. Edmondson as his successor as CEO, “One of the most important things we have as a corporation is integrity and trust. We have to restore that back to the company.”

As of yesterday, all of the company’s officers biographies, which included their degree record, have been removed and replaced with the statement, “We are currently updating and validating all of the biographical information for each of our senior executives. Please check back soon to receive this information.” [archival pic here]

Previously in The Consumerist: No Love at the Radio Shack; Store Closings and Resume Fakeries

RadioShack Chief Resigns After Lying [New York Times]