GameStop Appoints Reggie Fils-Aime to Board of Directors

Can Reggie save GameStop?

Looks like the big man just doesn't know how to stay retired. Reggie Fils-Aime is taking on a new job as part of GameStop's Board of Directors. He'll be taking the position on April 20th, 2020, and will obviously be doing his best to steer the company back to a better position. Read the full announcement below.

GameStop Corp. (GME) today announced it has appointed three new independent members to its Board of Directors. Joining the Company’s Board are Reginald “Reggie” Fils-Aimé, William “Bill” Simon and James “J.K.” Symancyk. Mr. Simon and Mr. Symancyk’s appointments are effective immediately; Mr. Fils-Aimé’s appointment will be effective April 20, 2020. GameStop’s Board also announced a number of corporate governance enhancements, implementing new guidelines for Board tenure and Committee refreshment, also effective immediately.

The appointments of Messrs. Fils-Aimé, Simon and Symancyk to the GameStop Board are the result of a comprehensive search process led by the Board of Directors and involving shareholder input. After years of distinguished service, four directors – Dan DeMatteo, Gerald Szczepanski, Larry Zilavy and Steve Koonin – have decided to retire from the Board, effective in June 2020, and will not stand for re-election at the Company’s 2020 Annual Meeting of Stockholders. In addition, two current directors – Jerome Davis and Tom Kelly – have decided to retire from the Board, effective June 2021, and will not stand for re-election at the Company’s 2021 Annual Meeting. Kathy Vrabeck, GameStop’s Lead Independent Director, will succeed Mr. DeMatteo as Board Chair.

Following the 2020 Annual Meeting, the GameStop Board will be composed of ten directors, nine of whom will be independent and six of whom will have served on the Board for less than two years. Median director tenure will be one year, significantly reduced from the prior median director tenure of eight years. These changes represent key elements of a Board refreshment process initiated in early 2019.

Ms. Vrabeck said, “On behalf of the entire Board and management team, I would like to extend my deepest gratitude to Dan, Gerald, Larry and Steve for their significant contributions to GameStop. During their tenure, the Company has made important progress executing on our objective of becoming a leading omni-channel retailer with top market share in the gaming category, and we appreciate their thoughtful leadership, guidance and service. Looking ahead, we are excited about the progress our new leadership team has made to date. We are confident they will continue to accelerate the Company’s turnaround and transformation to drive shareholder value as they pursue opportunities to create meaningful entertainment experiences for our customers and enhance partnerships with gaming publishers and console and PC developers.”

George Sherman, GameStop’s CEO, said, “The Board refreshment and governance enhancements announced today represent an important milestone in GameStop’s transformation as we continue to evolve the Company’s business strategy for long-term success. We are pleased to welcome Reggie, Bill and J.K. to the Board. They are each highly qualified and bring significant, relevant experience to our turnaround. We look forward to immediately benefitting from their expertise and perspectives as we navigate the evolving gaming and retail environments, execute on our strategic initiatives and prepare the Company to maximize value-creation associated with the next generation of console launches later this year.”

Board Appointments and Committee Composition

GameStop’s three new directors are highly qualified and collectively bring deep experience and expertise in retail, turnaround, consumer products, gaming and finance that are relevant to the Company’s business, ongoing turnaround and strategic plan to drive long-term shareholder value.

Reginald “Reggie” Fils-Aimé, 58, is an accomplished media and technology executive who brings more than 35 years of experience transforming companies, revitalizing brands and reshaping industries. From 2006 to 2019, he served as President and COO of Nintendo of America, Inc. During his tenure, Mr. Fils-Aimé focused on the development and launch of industry re-defining products, including the Nintendo DS, Wii, Nintendo 3DS and Nintendo Switch, quadrupling the company’s revenue from 2005 to 2010, and oversaw the successful implementation of the company’s digital strategy. He previously served as Nintendo of America’s EVP of Sales and Marketing from 2003 to 2006. Prior to joining Nintendo, Mr. Fils-Aimé served as SVP of Marketing for VH1 from 2001 to 2003, where he led a strategic shift to appeal to younger consumers that resulted in an increase in ratings of more than 30 percent. Earlier in his career, he held multiple marketing roles at a variety of consumer and manufacturing companies, including the Derby Cycle Corporation, Guinness Import Company, Panda Management Company, Inc., Pizza Hut, Inc. and the Procter & Gamble Company. Mr. Fils-Aimé holds a Bachelor’s degree in Applied Economics from Cornell University. Mr. Fils-Aimé has been appointed as a member of the Nominating and Corporate Governance Committee, effective April 20, 2020.

William “Bill” Simon, 60, is a seasoned executive with more than 30 years of operational and strategic advisory experience in the retail, consumer and food and beverage industries. Since 2014, he has served as a Senior Advisor at KKR & Co. Mr. Simon previously served in multiple leadership roles at Walmart Inc. from 2006 to 2015, including as President and CEO of Walmart U.S. from 2010 to 2014; EVP and COO of Walmart U.S. from 2007 to 2010; and as EVP, Professional Services and New Business Development from 2006 to 2007. Earlier in his career, Mr. Simon served as VP of Marketing, Beverages at Cadbury Schweppes plc and held leadership roles of increasing responsibility at PepsiCo, Inc., after beginning his career at RJR Nabisco. His current board memberships include Anixter International Inc.; Chico’s FAS; and Darden Restaurants, Inc. Mr. Simon holds an MBA and a Bachelor’s degree in Economics from the University of Connecticut. Mr. Simon has been appointed as a member of the Audit Committee.

James “J.K.” Symancyk, 48, brings more than 25 years of executive leadership and operational experience in the retail and consumer products industries. He has served as President and CEO of PetSmart, Inc. since 2018. Mr. Symancyk previously served as President and CEO of Academy Sports & Outdoors, Inc., a retail and ecommerce sporting goods chain, from 2015 to 2018. Prior to that, he held leadership roles of increasingly responsibility at Meijer, Inc., a regional supercenter chain store, including as President; COO; and EVP, Merchandising & Marketing. He began his career at Sam’s Club, where he served as Divisional Merchandise Manager, among other roles. His current board memberships include Petsmart and Chewy, Inc., and previously Academy Sports & Outdoors. Mr. Symancyk holds a Bachelor’s degree from the University of Arkansas. Mr. Symancyk has been appointed a member of the Compensation Committee.
Corporate Governance Enhancements

GameStop also announced today that, following a review of peer and best practices, it has enhanced its corporate governance guidelines to ensure continual refreshment of its Board and Board Committees.

Effective immediately, the Company is targeting:

An average Board tenure for independent directors of less than ten years; and Rotation of Board Committee members and chairs approximately every five years.

Ms. Vrabeck added, “We appreciate the perspectives and input of our shareholders, which we carefully considered in making changes to our corporate governance guidelines. The GameStop Board unanimously supports these enhancements, and we remain committed to ensuring that the Board is positioned to drive long-term value for all shareholders.”

Reggie took to Twitter to share the following statement on his new position.

“The gaming industry needs a healthy and vibrant GameStop. I look forward to being a part of GameStop Board and helping to make this happen.”

Thanks to PixlMagician for the heads up!

Categories: Top Stories
Tags: reggie


Mon Mar 09 20 04:42pm
Rating: 2 (Updated 1 time)

I thought this was satire when Games Beat posted it. Be prepped to see him hold a PS5 and Xbox Series X because it’s his job to help sell them now. That’s gonna feel weird.

Mon Mar 09 20 04:53pm
Rating: 1 (Updated 1 time)

He's not a spokesperson for the company, or in charge of it, he is on the board of directors. He's going to be working in the background. Not that it would be an issue if he was out selling the PS5, Adam Boyes is currently talking about how much his company loves porting games to Switch, so it isn't at all unprecedented.

Sure is interesting! Let's see if a bit of Nintendo magic can help.

Hopefully he's the one to get the stupid tech trade BS to stop, but I have little faith due to corporate being the way they are

To my understanding the dude did wonders for companies like Pizza Hut when he worked there as a marketing lead, so really if anyone could help GameStop out of their current slump it's Reggie. I legit don't want GameStop to go under because they actually are one of my best sources for finding a lot of games.

Wasn't he supposed to have retired? Kinda weird to go from Nintendo to retired, then to GameStop for practically no reason

Mon Mar 09 20 08:19pm
Rating: 1 (Updated 1 time)

A lot of retired CEOs end up getting involved in a company’s board of directors. It’s an easy way to keep being part of the industry, making money and taking significantly less personal time than any previous job of his.

I see GameStop as a company whose death is inevitable, so it seems like a really weird move to me. Maybe he'll surprise me though. If he can save the company then he really is magic.

Seems like hitching a ride on the titanic at this point. Gamestop has closed like 5 of their locations in my area in the past 2 weeks.

Mon Mar 09 20 09:26pm
(Updated 1 time)

Hey, he's still getting paid a lot. Either he helps GameStop recover, or he stops working for them and becomes retired again. It's win-win for him.

GameStop is still abundant around here though. If anything, it's had the same problem as Subway in which locations open too close to each other and they wind up competing with each other. (Subway got lucky though in that Quiznos expanded even faster and spectacularly imploded, showing the Subway people what could've happened to them before it was too late.)

Best Buy just cut me loose from the gamers club so maybe a Switch to GameStop with a Reggie will be my next path.


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