GameStop Corp. has announced that George Sherman will be the Chief Executive Officer and member of the Board of Directors, effective from April 15. Sherman succeeds Shane Kim, who has been interim Chief Executive Officer since May 2018. Sherman served as CEO of Victra, the authorized retailer for Verizon Wireless products and services. Last year, Michael Mauler stepped down as GameStop’s CEO after 3 months.
“We welcome George to the GameStop team. Leadership in retail at several brands including Advance Auto Parts, Best Buy, Target Corporation, and Home Depot positions him to lead GameStop for the years ahead,” said Dan DeMatteo, GameStop’s executive chairman.
Sherman acknowledges that he is coming on specifically because GameStop needs a change in strategy and leadership. “I am honored to have the opportunity to lead GameStop, one of the recognized brands in the video game industry,” Sherman said in a statement.
Sherman ran the business operations and home services divisions of Home Depot and spent 14 years with the Target Corporation in various leadership positions.
GameStop received a warning of a proxy fight from two of its shareholders, who collectively own 1.3% shares; the company does not hold talks with them about improving the business.