RadioShack, which filed for bankruptcy early in the year, has hired TV personality Nick Cannon as its new Chief Creative Officer in an attempt to change its 1980s-era image and increase its appeal to Millennials.

According to a press release from the company, Cannon will be playing an active role in developing products exclusive to RadioShack, and will also help transform the brand into a popular electronics store. He will also curate of music selections and participate in performances and events.

In addition, the actor/rapper will be help expand RadioShack's STEM (science, technology, engineering and math) initiatives all over the country.

"RadioShack is a brand that matters," said Cannon in a statement, adding that his experiences as a child in RadioShack stores taught him a lot regarding the exploration of his own creativity.

"RadioShack and I are going to create a lot of cool things together in the coming months, and I can't wait to tell you all about it," he added.

RadioShack Chief Marketing Officer Michael Tatelman said that the company, throughout its history, has looked to provide inspiration, education and innovation through its products and programs. Tatelman added that Cannon's innovative drive and his authentic relationship with RadioShack makes him the perfect man to fill the position.

"RadioShack is back," Tatelman added, though it might be too early for the company to be confident about its outlook.

The folks over at tech news website Re/code even thought that RadioShack had closed up shop completely, and mistook Cannon's hiring as a hoax. The appointment, however, was confirmed through a phone call.

"Yes, it is 100 percent legit, and it's more than him lending his name - he really is going to be involved, he really is going to be the CCO, he'll have an office in Fort Worth (RadioShack's HQ)," said Alessandra Carriero, a representative for RadioShack.

After filing for bankruptcy, RadioShack was rescued by a hedge fund purchase by Standard General, and has survived thanks to a co-branding agreement with Sprint. Cannon's appointment as the company's Chief Creative Officer could be the fresh marketing push it needs to regain its lost luster in the industry, but until the company reveals what kind of exclusive products Cannon and RadioShack will be coming up with, judgment is reserved.