Following a lengthy search, GameStop has a new CEO to lead the company through its next evolution.
The company’s Board of Directors appointed George Sherman as chief executive officer and member of the board of directors, effective April 15. Sherman has extensive retail experience, most recently serving as chief executive officer of Victra, the largest exclusive authorized retailer for Verizon Wireless products and services. He is also a veteran of the United States Air Force, in which he served as an officer for nearly seven years.
“We are very excited to welcome George to the GameStop team. His extensive retail leadership at several top brands including Advance Auto Parts, Best Buy, Target Corporation and Home Depot positions him as the right choice to lead GameStop for the years ahead,” says Dan DeMatteo, GameStop’s executive chairman. “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. 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. As George and our talented team finalize the blueprint for GameStop, we will continue to leverage our leadership position in the video game industry to discover new ways to support our loyal customers, while attracting new customers and serving their entertainment needs.”
“I am honored to have the opportunity to lead GameStop, one of the leading and most recognized brands in the video game industry, Sherman adds. “I bring significant experience working with other retailers that have undergone large, successful transformations and look forward to leveraging GameStop’s industry position, history and brand. The team has already done extensive strategic work to identify and pursue new customer-centric opportunities that will further expand the culture of gaming in new and exciting ways. I look forward to leading our associates and believe that we have a tremendous opportunity in front of us to continue to fuel the passion of gamers around the world.”
GameStop is a retailer that we’ve been watching closely at the Toy Book. The company’s success in the collectibles realm was featured in the Winter 2019 issue of our sister publication, the Pop Insider.