The chairman and chief executive of electronics retailer RadioShack, Julian Day, will retire in May after nearly five years.

He will be succeeded as chief executive by current chief financial officer Jim Gooch, who was immediately promoted to president.

Day led an overhaul of RadioShack operations that helped streamline the business while launching the campaign rebranding RadioShack as The Shack in order to reposition the retailer toward a younger, more modern consumer base.