Eight members of GameStop’s board of directors will leave the company after the game retailer’s annual meeting in June, according to a new file.
Why does it matter: “Significant changes” will ensure an almost complete transformation of the board of directors for a company operating on a Russian stock exchange system. He also says the new board members, led by Chewy co-founder Ryan Cohen, will present the company’s future.
Planned outings, first reported by Wall Street Journal, include Reggie Fils-Aimé, who was appointed to the board in March last year and had previously become a celebrity in the gaming industry as longtime chairman of Nintendo’s US division.
- Kathy Vrabeck, a former Activision executive, is also leaving. Her plan to go out was announced in January.
- This will leave the board with much less expertise in the gaming industry.
Between the lines: Cohen called for a shake-up of the company late last year, pushing for a shift to digital sales.
- In early March, GameStop announced that Cohen would lead a “strategic planning and capital allocation committee” to find out the company’s future. None of the eight members of the board of departure were on him.