GameStop names Matt Furlong CEO, effective June 21

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  • CNBC Television published this video item, entitled “GameStop names Matt Furlong CEO, effective June 21” – below is their description.

    GameStop announced it has named Matt Furlong as the company’s new chief executive officer, effective June 21. Furlong is coming to the tech retailer from Amazon. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/2NGeIvi

    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 company’s stock was down about 4% in extended trading after announcing its new leadership and the company’s fiscal first-quarter results, which showed sales up 25% and a narrower loss than it reported a year ago.

    Furlong will start his new role on June 21. He has worked for Amazon for nearly nine years, most recently leading the growth of its Australia business. Prior to that, he served as a technical advisor to the head of Amazon’s North America consumer business and worked for Procter & Gamble.

    Recupero began his career at Amazon 17 years ago. Most recently, he was the chief financial officer of its North American consumer business. He previously held similar roles within Amazon’s prime video, European consumer and advertising units.

    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 needs to 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.

    Read GameStop’s earnings release here and its CEO and CFO press release here.

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    In This Story: GameStop

    GameStop (NYSE: GME) is an American video game, consumer electronics, and gaming merchandise retailer. The company is headquartered in Grapevine, Texas, United States, a suburb of Dallas, and operates 5,509 retail stores throughout the United States, Canada, Australia, New Zealand, and Europe as of February 1, 2020.

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