JAMES B. "JIM" WILLIAMS NAMED PRESIDENT AND CHIEF EXECUTIVE OFFICER OF INTERTAN INC.
JAMES B. "JIM" WILLIAMS NAMED PRESIDENT AND CHIEF EXECUTIVE OFFICER OF INTERTAN INC. BARRIE, Ontario, Oct. 7 /PRNewswire/ -- InterTAN Inc. (NYSE: ITN) announced today that Mr. James (Jim) Williams, 47, has been appointed as its president and chief executive officer and elected to its board of directors. InterTAN is an international retailer of consumer electronic products operating approximately 1,500 corporate stores under the Radio Shack and Tandy trade names in Canada, Europe and Australia employing approximately 6,000 people. Mr. Williams will assume his new responsibilities on Oct. 19, 1992. Mr. Robert E. Keto, who formerly held these positions will become executive vice president of the company and president of Radio Shack Canada, the company's largest and most profitable operation. Mr. Williams most recently served as president of Canadian Tire Corporation, Limited's Merchandise Business Group and executive vice president of dealer relations. Prior to his joining Canadian Tire in 1986, as executive vice president of finance and administration and chief financial officer, he had held similar positions with Great Atlantic & Pacific Tea Company Limited and Dominion Stores Limited. Upon announcing Mr. Williams' appointment, Mr. John H. McDaniel, the company's chairman of the board stated, "InterTAN's board of directors is pleased that Mr. Williams is joining the company. He brings strong leadership to the company and a vast amount of retail experience. Mr. Williams has worked in all aspects of retailing including operations, merchandising, real estate and construction, finance and strategic planning. His broad experience will be most beneficial in the continuing implementation of the company's restructuring plan." In June the company announced a plan to restructure its retail operations in order to downsize and streamline the business and reduce operating costs. The plan calls for closing approximately 200 stores, mostly in Europe and reorganizing the management structure in Europe to improve efficiency and effectiveness. -0- 10/7/92 /CONTACT: Keith H. Wettlaufer, senior vice president-finance and administration of InterTAN, 705-739-6268/ (ITN) CO: InterTAN Inc. ST: Ontario IN: REA SU: PER
LR-TS -- NY003 -- 7337 10/07/92 08:38 EDT
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|Date:||Oct 7, 1992|
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