GameStop Appoints Reginald Fils-Aimé, William Simon and James Symancyk to Board of Directors and Enhances Corporate Governan...
March 09 2020 - 4:10PM
GameStop Corp. (NYSE: GME) today announced it has
appointed three new independent members to its Board of Directors.
Joining the Company’s Board are Reginald “Reggie” Fils-Aimé,
William “Bill” Simon and James “J.K.” Symancyk. Mr. Simon and Mr.
Symancyk’s appointments are effective immediately; Mr. Fils-Aimé’s
appointment will be effective April 20, 2020. GameStop’s Board also
announced a number of corporate governance enhancements,
implementing new guidelines for Board tenure and Committee
refreshment, also effective immediately.
The appointments of Messrs. Fils-Aimé, Simon and Symancyk to the
GameStop Board are the result of a comprehensive search process led
by the Board of Directors and involving shareholder input. After
years of distinguished service, four directors – Dan DeMatteo,
Gerald Szczepanski, Larry Zilavy and Steve Koonin – have decided to
retire from the Board, effective in June 2020, and will not stand
for re-election at the Company’s 2020 Annual Meeting of
Stockholders. In addition, two current directors – Jerome Davis and
Tom Kelly – have decided to retire from the Board, effective June
2021, and will not stand for re-election at the Company’s 2021
Annual Meeting. Kathy Vrabeck, GameStop’s Lead Independent
Director, will succeed Mr. DeMatteo as Board Chair.
Following the 2020 Annual Meeting, the GameStop Board will be
composed of ten directors, nine of whom will be independent and six
of whom will have served on the Board for less than two years.
Median director tenure will be one year, significantly reduced from
the prior median director tenure of eight years. These changes
represent key elements of a Board refreshment process initiated in
early 2019.
Ms. Vrabeck said, “On behalf of the entire Board and management
team, I would like to extend my deepest gratitude to Dan, Gerald,
Larry and Steve for their significant contributions to GameStop.
During their tenure, the Company has made important progress
executing on our objective of becoming a leading omni-channel
retailer with top market share in the gaming category, and we
appreciate their thoughtful leadership, guidance and service.
Looking ahead, we are excited about the progress our new leadership
team has made to date. We are confident they will continue to
accelerate the Company’s turnaround and transformation to drive
shareholder value as they pursue opportunities to create meaningful
entertainment experiences for our customers and enhance
partnerships with gaming publishers and console and PC
developers.”
George Sherman, GameStop’s CEO, said, “The Board refreshment and
governance enhancements announced today represent an important
milestone in GameStop’s transformation as we continue to evolve the
Company’s business strategy for long-term success. We are pleased
to welcome Reggie, Bill and J.K. to the Board. They are each highly
qualified and bring significant, relevant experience to our
turnaround. We look forward to immediately benefitting from their
expertise and perspectives as we navigate the evolving gaming and
retail environments, execute on our strategic initiatives and
prepare the Company to maximize value-creation associated with the
next generation of console launches later this year.”
Board Appointments and Committee
Composition
GameStop’s three new directors are highly qualified and
collectively bring deep experience and expertise in retail,
turnaround, consumer products, gaming and finance that are relevant
to the Company’s business, ongoing turnaround and strategic plan to
drive long-term shareholder value.
- Reginald “Reggie” Fils-Aimé, 58, is an
accomplished media and technology executive who brings more than 35
years of experience transforming companies, revitalizing brands and
reshaping industries. From 2006 to 2019, he served as President and
COO of Nintendo of America, Inc. During his tenure, Mr. Fils-Aimé
focused on the development and launch of industry re-defining
products, including the Nintendo DS, Wii, Nintendo 3DS and Nintendo
Switch, quadrupling the company’s revenue from 2005 to 2010, and
oversaw the successful implementation of the company’s digital
strategy. He previously served as Nintendo of America’s EVP of
Sales and Marketing from 2003 to 2006. Prior to joining Nintendo,
Mr. Fils-Aimé served as SVP of Marketing for VH1 from 2001 to 2003,
where he led a strategic shift to appeal to younger consumers that
resulted in an increase in ratings of more than 30 percent. Earlier
in his career, he held multiple marketing roles at a variety of
consumer and manufacturing companies, including the Derby Cycle
Corporation, Guinness Import Company, Panda Management Company,
Inc., Pizza Hut, Inc. and the Procter & Gamble Company. Mr.
Fils-Aimé holds a Bachelor’s degree in Applied Economics from
Cornell University. Mr. Fils-Aimé has been appointed as a
member of the Nominating and Corporate Governance Committee,
effective April 20, 2020.
- William “Bill” Simon, 60, is a seasoned
executive with more than 30 years of operational and strategic
advisory experience in the retail, consumer and food and beverage
industries. Since 2014, he has served as a Senior Advisor at KKR
& Co. Mr. Simon previously served in multiple leadership roles
at Walmart Inc. from 2006 to 2015, including as President and CEO
of Walmart U.S. from 2010 to 2014; EVP and COO of Walmart U.S. from
2007 to 2010; and as EVP, Professional Services and New Business
Development from 2006 to 2007. Earlier in his career, Mr. Simon
served as VP of Marketing, Beverages at Cadbury Schweppes plc and
held leadership roles of increasing responsibility at PepsiCo,
Inc., after beginning his career at RJR Nabisco. His current board
memberships include Anixter International Inc.; Chico’s FAS; and
Darden Restaurants, Inc. Mr. Simon holds an MBA and a Bachelor’s
degree in Economics from the University of Connecticut. Mr.
Simon has been appointed as a member of the Audit Committee.
- James “J.K.” Symancyk, 48,
brings more than 25 years of executive leadership and operational
experience in the retail and consumer products industries. He has
served as President and CEO of PetSmart, Inc. since 2018. Mr.
Symancyk previously served as President and CEO of Academy Sports
& Outdoors, Inc., a retail and ecommerce sporting goods chain,
from 2015 to 2018. Prior to that, he held leadership roles of
increasingly responsibility at Meijer, Inc., a regional supercenter
chain store, including as President; COO; and EVP, Merchandising
& Marketing. He began his career at Sam’s Club, where he served
as Divisional Merchandise Manager, among other roles. His current
board memberships include Petsmart and Chewy, Inc., and previously
Academy Sports & Outdoors. Mr. Symancyk holds a Bachelor’s
degree from the University of Arkansas. Mr. Symancyk has been
appointed a member of the Compensation
Committee.
Corporate Governance Enhancements
GameStop also announced today that, following a review of peer
and best practices, it has enhanced its corporate governance
guidelines to ensure continual refreshment of its Board and Board
Committees.
Effective immediately, the Company is targeting:
- An average Board tenure for independent directors of less than
ten years; and
- Rotation of Board Committee members and chairs approximately
every five years.
Ms. Vrabeck added, “We appreciate the perspectives and input of
our shareholders, which we carefully considered in making changes
to our corporate governance guidelines. The GameStop Board
unanimously supports these enhancements, and we remain committed to
ensuring that the Board is positioned to drive long-term value for
all shareholders.”
About GameStopGameStop, a Fortune 500 company
headquartered in Grapevine, Texas, is the world’s largest video
game retailer, operates approximately 5,500 stores across 14
countries, and offers the best selection of new and pre-owned video
gaming consoles, accessories and video game titles, in both
physical and digital formats. GameStop also offers fans a wide
variety of POP! vinyl figures, collectibles, board games and more.
Through GameStop’s unique buy-sell-trade program, gamers can trade
in video game consoles, games, and accessories, as well as consumer
electronics for cash or in-store credit. The Company's consumer
product network also includes www.gamestop.com and Game Informer®
magazine, the world's leading print and digital video game
publication.
Investor ContactGameStop Investor
Relations(817) 424-2001investorrelations@gamestop.com
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