Eight members of GameStop’s board will leave the company after the game dealer’s annual meeting in June, according to a new archive.
Why it matters: The “significant changes” will ensure an almost total transformation of board management for a company that runs on a roller coaster. It also confirms that new board members, led by Chewy co-founder Ryan Cohen, will map out the company’s future.
The planned exits, first reported by the Wall Street Journal, include Reggie Fils-Aimé, who was appointed to the board in March last year and who had previously become a celebrity for the gaming industry as the longtime president of Nintendo̵
- Also leaving is Kathy Vrabeck, a former leader of Activision. The plan to end was announced in January.
- This will give the board far less expertise in the gaming industry.
Between the lines: After the end of last year, Cohen has asked for a clean-up from the company and pushed for a switch to digital sales.
- In early March, GameStop announced that Cohen would chair a “strategic planning and capital allocation committee” to determine the company’s future. None of the eight resigning board members were present.