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GameStop Names Retail Veteran As CEO

GameStop Names Retail Veteran As CEO

GameStop has appointed George Sherman as CEO and member of the Board of Directors, effective April 15. He succeeds Shane Kim, who has served as interim CEO since May 2018, when he replaced outgoing CEO Michael Mauler.

Sherman most recently served as CEO of Victra, and earlier held the position of President and interim CEO of Advance Auto Parts. He also has served as President of Best Buy Services, run the operations and home services divisions of The Home Depot and spent 14 years with Target, where he held various leadership positions.

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The GameStop C-suite experienced significant turnover early in 2018, including the firing of COO Tony Bartel and EVP Michael Hogan and the departures of human resources head Mike Buskey, CIO Michael Cooper and CMO Randy Gier.

The retailer also has been suffering from poor financial results, including a 5% sales decline during holiday 2018 compared to holiday 2017. GameStop started looking for a buyer in June 2018, but ended the search in January 2019 due to lack of available financing on terms a prospective buyer would accept. However, the company did succeed in selling its Spring Mobile business, which consists of 1,289 AT&T wireless stores, for approximately $735 million.

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