A man looks at GameStop at 6th Avenue on February 25, 2021 in New York.
John Smith | Corbis News | Getty Images
GameStop said Wednesday that it has appointed former Amazon executive Matt Furlong as its new CEO.
It has also picked another former Amazon executive, Mike Recupero, as chief financial officer.
The video game retailer is in the early days of trying to turn around its business. It has named a fresh slate of executives to lead its shift from being a brick-and-mortar retailer to an online player that can fend off competitors like Walmart, Sony and Microsoft. The company also needs to pay off long-term debt and find a strategy to grow its sales. Its stock has also gotten a boost from a Reddit-inspired trading frenzy.
Over the past few months, it has hired three former Amazon executives, Jenna Owens, its new chief operating officer; Matt Francis, its first chief technology officer; and Elliott Wilke, its chief growth officer. It also tapped Chewy co-founder Ryan Cohen to lead its e-commerce efforts. It named him chairman at a shareholder meeting Wednesday.
Cohen, who was named chairman on Wednesday, took a stake in GameStop last year. In January, he and two other former Chewy executives were named to the retailer’s board as part of an agreement with the company’s management.
GameStop said in the spring that outgoing CEO George Sherman would step down July 31 or earlier, pending the appointment of a successor.
This is a breaking news story. Please check back for updates.