New York City GameStop Corp. is splitting its chairman and CEO functions, a decision that supports a new management reorganization designed to support the company’s rapid expansion into 16 countries.
As part of the changes, R. Richard Fontaine, who has served as chairman and CEO since the company's inception in 1996, will relinquish his CEO title. As executive chairman, Fontaine will focus on international operations, acquisitions and strategic development.
The company's operating chief, Daniel A. DeMatteo, will assume the role of CEO. DeMatteo has been the COO since 1996, and vice chairman and COO since 2004.
In addition, J. Paul Raines, the former executive VP of U.S. stores for The Home Depot Inc., will become the company's new COO, effective Sept. 7.
The company believes that unprecedented growth of new video game hardware during 2007 and 2008, combined with significant industry investment and a promising title lineup, will drive new video game software sales to double-digit growth.