An admission that the chief executive officer of RadioShack Corp. misrepresented his academic credentials highlights a dilemma for corporate directors in the post-Enron, Sarbanes-Oxley world: What type of ethical breach requires dumping a top executive?
Last night, after two days of sticking by David Edmondson, RadioShack directors said they will retain outside counsel to investigate the matter and advise them on what to do. The board acted in response to a statement from Mr. Edmondson in which he admitted he had "clearly misstated my academic record."
Both the board's statement and Mr. Edmondson's were contained in a news release issued by the company late yesterday.
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