David J. Edmondson
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Edmondson David J. Edmondson
David J. Edmondson, the embattled chief executive of RadioShack, offered two apologies to investors yesterday, one for the performance of the company and the other for having lied about his educational background. Mr. Edmondson said that RadioShack failed to achieve its financial objectives in 2005. The company's board initially supported Mr. Edmondson after the newspaper published its report on Tuesday, quoting the college's registrar as saying Mr. Edmondson had attended the school but had not graduated. Since Mr. Edmondson became president of the retailer in 2000, the shares are down 62 percent. David J. Edmondson, the embattled chief executive of RadioShack, offered two apologies to investors, one for the performance of the company and the other one is for having lied about his educational background. He said in announcing that earnings were well below Wall Street expectations, said that RadioShack failed to achieve its financial objectives in 2005. But they must move at a much faster pace with a greater sense of urgency. He said the turnaround plan would cost as much as $100 million.