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 presentation.
Why it’s important: The “significant changes” will ensure an almost total transformation of the leadership of the board of directors for a company that is roller coaster in stock. He also claims that the new board members, led by Chewy co-founder Ryan Cohen, will chart the future of the company.
Planned departures, first reported by the Wall Street Journal, includes Reggie Fils-Aimé, who was named a board member last March and had previously become a celebrity in the gaming industry as a longtime president of Nintendo’s US division.
- Kathy Vrabeck, a former CEO of Activision, also left. His exit plan was announced in January.
- This will leave the board with much less experience in the gaming industry.
Between lines: Cohen has been calling for a shake-up of businesses since late last year, pushing a shift toward digital sales.
- In early March, GameStop announced that Cohen would chair a “strategic planning and capital allocation committee” to find out the company’s future. None of the eight board members who came out were there.