Retail giant GameStop has found new chief executive and chief financial officers.
The firm revealed yesterday alongside its financials for the period ending May 1st 2021 that it had appointed Matt Furlong (pictured) as its new CEO, while Mike Recupero has come on board as CFO. Both were previously at Amazon.
Furlong was previously heading up Amazon's Australian business, having joined the company back in 2012 as senior manager overseeing its vendors. Before that he spent 12 years working as Procter & Gamble.
Recupero, meanwhile, has spent over 17 years working at Amazon, with his most recent role being VP of finance and CFO for the company's North American Consumer business. Before that he has worked in Amazon's Prime Video, EU consumer and worldwide digital advertising segments.
The duo have been hired following something of a clear-out at the top of GameStop. In February, the company announced that Jim Bell was stepping down as CFO – though there have been reports that he was forced out – while CEO George Sherman revealed he was stepping down in April. That news came in the wake of rumours that GameStop was seeking a new chief exec.
Sherman is going to receive a $179 million golden parachute, in part due to the exec's compensation being largely in stock. GameStop's share price has rocketed up and been wildly volatile during 2021, reaching a high of $325 in January. At the time of writing, the firm's stock is worth $302.56, following a huge dip and rally over the last few months.
GameStop also recently hired Amazon and Google vet Jenna Owens as its new COO. The company also has a new chairman in the form of "activist investor" Ryan Cohen.