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Reggie Fils-Aime joins GameStop Board of Directors in April

Reggie Fils-Aime joins GameStop Board of Directors

GameStop has not had a good few years. The gaming retailer has been trying to stave off bankruptcy, but the effort has been rather floundering. The company has been experiencing lots of store closures amid falling sales, most of which they blame on the combination of a shrinking physical retail market and the lack of excitement for GameStop’s business model.

Now, Reggie Fils-Aime will be joining the company in 2020 as a member of the board of directors. He joins President and Chief Executive of Petsmart, J.K. Symancyk, and Bill Simon (who has over 30 years of retail executive experience) who are also part of a new crop of executives pulled into the company.

With these new hires, they’re being brought on to replace four departures from the retail giant. Those departures include Dan DeMatteo, Gerald Szczepanski, Larry Zilavy, and Steve Koonin.

And even though any conventional business wisdom would say you don’t want to be stuck on a sinking ship, things could change over the next couple of years. The impending launch of the Xbox Series X and PS5 could help GameStop boost its business a fair bit. Also, there’s potential for growth in the new test store ideas they’re toying around with.

Reggie Fils-Aime retired from Nintendo last year, to a large number of well-wishes and tearful goodbyes after his many years with the American branch of the gaming icon.

However, it’s unclear how the legendary executive fits into that plan. The video game retailer has been shuttering stores for years amid shrinking revenue. Just these past couple of months, GameStop slated another 40 stores for closure. According to other members of the board, these new hires should help the ailing retailer generate new ideas that help better position them in the changing market.

“The board refreshment and governance enhancements announced today represent an important milestone in GameStop’s transformation as we continue to evolve the company’s business strategy for long-term success,” GameStop chief executive George Sherman said. “They are each highly qualified and bring significant, relevant experience to our turnaround.”

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