Texas-based GameStop announced the appointment of Matt Furlong to Chief Executive Officer and Mike Recupero as Chief Financial Officer today (June 9). Both joined the struggling retailer, buoyed by its prominence as a “meme stock,” from Amazon.
Recupero has a track record of introducing growth strategies across international markets and product segments; his most recent post at Amazon was CFO of the retail giant’s North America Consumer Business. His prior stops included stints as CFO of Prime video and the European Consumer business.
Furlong oversaw Amazon’s operations in Australia and presided over a period of sustained growth after beginning his career as a brand strategist for Procter & Gamble.
GameStop began its search for a more digital-friendly CEO back in April. The company has been on a wild ride over the past year as outgoing CEO George Sherman has aimed to make it “a customer-obsessed technology company that delights gamers,” PYMNTS reported at the time.
GameStop owns 4,816 locations worldwide. In April of last year, it revealed plans to close more than 1,000 stores during an earnings call.
The appointments came hours after GameStop shareholders elected its largest stakeholder, billionaire Ryan Cohen, to its chairman role. In a quarterly report, GameStop said it may sell up to 5 million new shares, worth $1.4 billion; good enough to send shares tumbling 9 percent.
“These appointments reflect the refreshed board’s focus on building a technology company and investing in growth,” GameStop said in a statement.