Reggie Fils-Aimé joins GameStop’s board of directors

Reggie Fils-Aimé, the recently retired president of Nintendo of America, will join GameStop’s board of directors on April 20. The announcement was made Monday in a news release on the publicly traded company’s website. The news comes in the middle of a precipitous decline in the company’s stock price, and rumors of turmoil inside the troubled games retailer.

GameStop has been floundering seemingly for years now, as digital downloads and larger market pressures have cut into its revenues. In January, executives admitted sales for the most recent quarter were down 25% from the year previous period. Company executives say the arrival of new game consoles from Microsoft and Sony will provide a much-needed boost, but recent layoffs suggest a lack of confidence.

The announcement of Fils-Aimé’s appointment to the board of directors comes as an early indicator that he is not entirely done with the game industry. He’s joined by William “Bill” Simon (Walmart, Cadbury Schweppes, PepsiCo, and Nabisco) and James “J.K.” Symancyk (PetSmart, Academy Sports & Outdoors, Sam’s Club), who take their seats on the board immediately. By the time Fils-Aimé joins them he will be one of 10 board members guiding the company through 2020 and beyond.

Source: Read Full Article