GameStop Announces Appointment of Daniel A. DeMatteo as Interim Chief Executive Officer and Resignation of Michael K. Mauler
May 11 2018 - 9:09AM
GameStop Corp. (NYSE:GME), today announced that
the company’s Board of Directors has appointed Daniel A. DeMatteo
as interim chief executive officer following the resignation of
Michael K. Mauler for personal reasons, effective
immediately. Mr. DeMatteo, one of the company’s co-founders,
will continue to serve as executive chairman and director. In
the past, Mr. DeMatteo has served as the company’s chief executive
officer and in a variety of board and executive roles since
November 1996.
Mr. DeMatteo stated, “Given my tenure and
familiarity with the company and our associates, it’s a natural
step for me to assume this role and guide the business at this time
while the board searches for a permanent CEO. I’m happy to
have Rob Lloyd, our CFO, and his 22 years of experience with
GameStop alongside me as we work towards executing against our 2018
objectives. We continue to believe in GameStop and the many
passionate associates that drive our business and are encouraged by
the opportunities ahead of us.”
Robert A. Lloyd has been with GameStop since
1996 and has held various financial and leadership roles of
increasing responsibility prior to being named chief financial
officer in 2010.
About GameStopGameStop Corp., a Fortune 500
company headquartered in Grapevine, Texas, is a global,
multichannel video game, consumer electronics and wireless services
retailer. GameStop operates over 7,200 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. Our Technology Brands segment includes nearly 1,400
Spring Mobile AT&T and Simply Mac stores. Spring Mobile,
www.springmobile.com, sells all of AT&T’s products and
services, including DIRECTV, devices and related accessories in
select markets in the U.S. Simply Mac, www.simplymac.com, 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,
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 outlook for fiscal 2018, future financial and
operating results, projections, expectations and other statements
that are not historical facts. Forward-looking statements are
subject to significant risks and uncertainties and actual 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: 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 and technology brands
businesses; 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, executive officers 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; changes to our wireless industry
partnerships and 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. 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 3, 2018 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.
INVESTOR & MEDIA RELATIONS CONTACTS:
Mike Loftus
Vice President, Global Controller and Investor Relations
investorrelations@gamestop.com
Joey Mooring
Senior Director, Corporate Communications
joeymooring@gamestop.com
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