Following the announcement in April that GameStop CEO George Sherman would be stepping down, the retailer has appointed a new head in former Amazon lead Matt Furlong.
Furlong joins GameStop after two years as a country leader for Amazon Australia, and a total of nearly eight years with Amazon in various leadership roles. Prior to that, he was an associate director with Procter and Gamble for 12 years.
GameStop has also tapped Mike Recupero as its new CFO following the resignation in February of Jim Bell. Recupero is also from Amazon, having worked there for 17 years in various positions in different regions and departments. Most recently, he was Amazon’s CFO of European consumer business.
Notably, Furlong is pointed out by GameStop’s press release to have experience in e-commerce, something it has been eagerly building up a strategy for in recent months in an effort to save its struggling brick and mortar business. The company’s shifting strategy was kickstarted in 2019 and 2020 by a group of dissatisfied activist shareholders, and has more recently been accelerated by former Chewy CEO and e-commerce enthusiast Ryan Cohen and a number of interconnected new appointments as GameStop’s leadership team undergoes a dramatic overhaul.
This news comes alongside GameStop’s reporting of its first-quarter financial results today, in which it saw net sales increase 25% to $1.3 billion, and an overall net loss of $66.8 million compared to a net loss of $165.7 million in Q1 of last year. GameStop will hold its quarterly earnings call later this afternoon, though it is unclear how much information will be provided during this given last quarter’s lack of a Q&A.
Rebekah Valentine is a news reporter for IGN. You can find her on Twitter @duckvalentine.