GameStop names CEO
GameStop Corp. has tapped a veteran retailer as its next chief executive.
The retailer has appointed George Sherman as CEO and member of the board of directors, effective April 15, 2019. He succeeds Shane Kim, who has served as interim CEO since May 2018, and as a director since July 2011.
Most recently, Sherman served as CEO of Victra, the largest exclusive authorized retailer for Verizon Wireless products and services. He also served as president and interim CEO for Advance Auto Parts where he was responsible for more than 4,000 stores, merchandising, marketing, information technology, supply chain and commercial sales. As president of Best Buy Services, he led consumer services, small- and medium-business capabilities, channel partnerships and Best Buy for Business.
Prior to Best Buy, Sherman ran the operations and home services divisions of Home Depot and spent 14 years with Target Corp. in various leadership positions.
GameStop has been without a permanent CEO since May 2019, when Michael Mauler abruptly resigned after only three months on the job. A GameStop veteran, Mauler was appointed to the top role following the resignation of longtime chief Paul Raines, who left the company in late January 2018 in order to focus on his health and family. Raines died in March after a long battle with cancer.
“Having recently conducted a thorough review of strategic and financial alternatives, we are at a critical juncture in GameStop’s evolution and, with George’s hiring and his proven experience, we are ready to move forward,” stated Dan DeMatteo, GameStop’s executive chairman. “While the board recently announced the initial steps of our go-forward capital allocation and shareholder return program, we look forward to supporting George as we accelerate the next steps in that plan, which include several exciting initiatives that have been in development and have the potential to improve the financial performance and profitability of our company.”
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