RadioShack to Pay CEO $500,000 Retention Bonus as Sales Plunge
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RadioShack Corp., which announced plans yesterday to shut 1,100 stores after a plunge in sales, agreed to pay its top executives retention bonuses, saying their skills are critical to the company’s comeback plan.
Chief Executive Officer Joe Magnacca will get a $500,000 payment, while other executives will receive $187,500 to $275,000, the Fort Worth, Texas-based company said today in a filing. Magnacca also will be eligible for a bonus of as much as $600,000 next year if he meets performance targets.