GameStop names two Amazon executives as chief financial officer

1
1 minute
GameStop names two Amazon executives as chief financial officer

On Wednesday, GameStop named two Amazon executives as its chief executive and chief financial officer, the biggest changes at the once-voluntuan videogame retailer since activist investor Ryan Cohen joined the board and launched plans to turn it into an electronic commerce powerhouse.

Jim Bell would replace George Sherman as chief executive officer and Mike Recupero will succeed Matt Furlong as chief financial officer.

Furlong, who will join Amazon after Amazon's operations in North American consumers, will come on June 21, while Recupero, who was Chief Financial Officer of Amazon's Australia-headquartered business, will take over board on July 12, the company added.

The news comes just two months after Reuters reported that the company was looking to replace Sherman and less than six months after the shares rose on heavy demand from retail investors to new levels.

These appointments reflect the refreshed Board's focus on building a technology company and investing in growth, said GameStop in the statement.

The news also came only a few hours after shareholders elected billionaire Chewy as the company's chairman and co-founder of an online pet supplies retailer Cohen. In April, GameStop announced his nomination for the national title of 2016.

As my dad would say, buckle up Cohen told shareholders earlier in the day.

The stock price, which had dropped during the day a little over 3%, was up in favorable after-hours trading by more than 3%.

  • Comments
Loading comments...