GameStop Announces New Leadership Appointments and Enhanced Leadership Structure
May 30 2019 - 4:05PM
GameStop Corp. (NYSE: GME) today announced new leadership
appointments and an enhanced organizational structure to better
position the company for continued execution of its transformation
and drive its next phase of growth. Under the enhanced
organizational structure, which includes newly created Chief
Customer Officer and Chief Merchandising Officer roles, the
leadership team will report directly to George Sherman, who was
appointed as Chief Executive Officer last month.
Collectively, the additions and changes to GameStop’s leadership
bring together a strong group of individuals with complementary
experience, deep industry and operational expertise and proven
records of execution. These include:
- James Bell, age 51, appointed as Executive Vice
President and Chief Financial Officer, effective June 3,
2019. Jim most recently served as CFO of Wok Holdings,
Inc., the parent company of P.F. Chang’s, Pei Wei and True Food
Kitchen restaurants, where he successfully designed and led the
company’s overall strategic plan and omni-channel digital
transformation that resulted in over $50 million in annual revenue
growth over two years. Previously, Jim served as EVP, CFO at RLH
Corporation and Coldwater Creek, Inc. Earlier in his career he held
senior finance roles at several consumer businesses, including
Harry & David Holdings, Inc. and The Gap. Jim previously served
as a Naval Flight Officer in the U.S. Navy from 1989 to 1998.Rob
Lloyd, the company’s current Chief Operating Officer and Chief
Financial Officer, will depart after nearly 23 years with GameStop,
effective July 3, 2019. He will work closely with George and Jim to
ensure a smooth transition during the month of June. As part of its
new organizational structure, the company will eliminate the
position of COO.
- Chris Homeister, age 50, appointed to newly created
role of Executive Vice President and Chief Merchandising Officer,
effective June 10, 2019. Chris most recently served as
President, CEO and a member of the Board of Directors of The Tile
Shop, a publicly traded specialty retailer, where he grew the
company in terms of product assortment, online and mobile
capabilities, store count, employees, revenue and EBITDA. Earlier
in his career, he held a number of senior roles at Best Buy,
including SVP, Digital Merchandising & Strategic Planning and
General Manager and SVP, Entertainment Business Group, where he
oversaw the product categories including video games, movies,
music, and eReaders and launched Best Buy’s video game trade-in
business. In the newly created CMO role at GameStop, Chris will be
responsible for the company’s overall merchandise operations and
strategy and all product and merchandising functions across all
channels, including buying, planning, supply chain and logistics,
and inventory allocation efforts.
- Frank Hamlin, age 50, promoted to the newly created
role of Executive Vice President and Chief Customer Officer,
effective June 3, 2019. Frank has more than 25 years of
experience in retail marketing, strategy, customer loyalty and
e-commerce, and previously served as GameStop’s Chief Marketing
Officer. Prior to GameStop, he served as CMO of Tailored Brands,
the parent company of Men’s Wearhouse, JoS. A. Bank and Joseph
Abboud and held various marketing and operations leadership
positions of increasing responsibility at Guitar Center; E-Miles
LLC; H.E. Butt Grocery; and Brierley & Partners. In this newly
created role, Frank will have responsibility for defining and
driving the company’s overall customer-centric initiatives as it
relates to marketing, customer loyalty, the omnichannel business,
strategy and innovation.
“The new leadership appointments and changes to our
organizational structure mark important milestones that will help
advance GameStop’s transformation as we work to position the
company for the future and bring gaming culture and experiences to
life in every community,” George said. “With this experienced and
dynamic team in place, we will be better positioned than ever to
execute on our strategic priorities and meet our loyal customers
where, when and how they want to shop. Importantly, we remain
focused on driving long-term growth and profitability and further
strengthening our balance sheet to deliver increased value to our
shareholders, employees, customers and other stakeholders.”
George added, “On behalf of the entire GameStop Board of
Directors and leadership team, I would like to extend my deepest
gratitude to Rob for his significant contributions to GameStop in
his nearly 23-year career with the company. Rob helped transform
GameStop from a retail-only, single focus retailer to an
omni-channel enterprise with multiple retail brands and product
sets. He played an integral role in building our Technology Brands
Business and oversaw the execution and integration of more than 40
acquisitions. We wish him all the best in his future
endeavors.”
About GameStopGameStop Corp., a Fortune 500
company headquartered in Grapevine, Texas, is a global,
multichannel video game and consumer electronics retailer. GameStop
operates nearly 5,800 stores across 14 countries. The company's
consumer product network also includes www.gamestop.com; Game
Informer® magazine, the world's leading print and digital video
game publication; and ThinkGeek, www.thinkgeek.com, the premier
retailer for the global geek community featuring exclusive and
unique video game and pop culture products, and Simply Mac, which
sells the full line of Apple products, including laptops, tablets,
and smartphones and offers Apple certified warranty and repair
services.
General information about GameStop Corp. can be obtained at the
company’s corporate website. Follow @GameStop and @GameStopCorp on
Twitter and find GameStop on Facebook at
www.facebook.com/GameStop.
Safe HarborThis press release contains
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Such statements are based
upon management’s current beliefs, views, estimates and
expectations, including as to the Company’s industry, business
strategy, goals, and expectations concerning its market position,
opportunities, future operations, margins, profitability, capital
expenditures, liquidity and capital resources and other financial
and operating information. Such statements include without
limitation those about the Company’s expectations for fiscal 2019,
future financial and operating results, projections, expectations
and other statements that are not historical facts. All statements
regarding expected benefits of the announced management changes and
changes in organizational structure are forward-looking
statements. Forward-looking statements are subject to
significant risks and uncertainties and actual developments,
business decisions and results may differ materially from those
reflected or described in the forward-looking statements. The
following factors, among others, could cause actual results to
differ from those reflected or described in the forward-looking
statements: the uncertain impact, effects and results of pursuit of
operating, strategic, financial and structural alternatives;
volatility in capital and credit markets, including changes that
reduce availability, and increase costs, of capital and credit; our
inability to obtain sufficient quantities of product to meet
consumer demand; the timing of release and consumer demand for new
and pre-owned products; our ability to continue to expand, and
successfully open and operate new stores for our collectibles
business; risks associated with achievement of anticipated
financial and operating results from acquisitions; our ability to
sustain and grow our console digital video game sales; the impact
of goodwill and intangible asset impairments; cost reduction
initiatives, including store closing costs; risks related to
changes in, and our continued retention of, executives and other
key personnel; changes in consumer preferences and economic
conditions; increased operating costs, including wages; cyber
security events and related costs; risks associated with
international operations; increased competition and changing
technology in the video game industry; changes in domestic or
foreign laws and regulations that reduce consumer demand for, or
increase prices of, our products or otherwise adversely affect our
business; our effective tax rate and the factors affecting our
effective tax rate, including changes in international, federal or
state tax, trade and other laws and regulations; the costs and
outcomes of legal proceedings and tax audits; our use of proceeds
from the sale of our Spring Mobile business; and unexpected changes
in the assumptions underlying our outlook for fiscal 2019.
Additional factors that could cause our results to differ
materially from those reflected or described in the forward-looking
statements can be found in GameStop's Annual Report on Form 10-K
for the fiscal year ended February 2, 2019 filed with the SEC and
available at the SEC's Internet site
at http://www.sec.gov or http://investor.GameStop.com.
Forward-looking statements contained in this press release speak
only as of the date of this release. The Company undertakes no
obligation to publicly update any forward-looking statement,
whether as a result of new information, future developments or
otherwise, except as may be required by any applicable securities
laws.
ContactGameStop Corp. Investor Relations(817)
424-2001investorrelations@gamestop.com
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