Chairman and CEO Functions Split;
New COO Joins Company
GRAPEVINE, Texas--(BUSINESS WIRE)--Aug. 29, 2008--Today, the Board
of Directors for GameStop Corp. (NYSE: GME) approved a reorganization
of the senior management structure in light of the company's
tremendous growth, impressive continued worldwide brand expansion and
powerful operating metrics that has strategically catapulted the
organization into 16 countries with 5,557 stores.
R. Richard Fontaine, 66, GameStop's Chairman and CEO since the
company's inception in 1996, will concentrate his focus on
international operations, acquisition opportunities and strategic
development as Executive Chairman. He will relinquish his CEO role to
Daniel A. DeMatteo, 60, who has been the COO since 1996 and Vice
Chairman and COO since 2004.
In addition, J. Paul Raines, 44, the former Executive Vice
President of U.S. Stores for Home Depot, will become the company's new
COO, effective Sept. 7, 2008.
GameStop's senior executive team will continue to include 12-year
company veteran David W. Carlson, 45, as EVP and CFO and Tony D.
Bartel as EVP of merchandising and marketing, 44, who joined the
company in 2005.
"Dan and I have worked together for over 12 years, and with an
outstanding team of leaders, we have built GameStop into one of the
fastest-growing and most successful specialty retailers worldwide,"
said Fontaine. "Dan's move into the CEO role will assure the
continuity of performance that has been a GameStop hallmark. His
leadership, drive and insight into the videogame business and its huge
upside potential make him the obvious choice as CEO."
"These moves are a natural evolution of our growth and potential,
and I am excited about this opportunity," indicated DeMatteo. "We are
also extremely pleased to have Paul Raines join our executive team as
COO. He brings a wealth of retail operations expertise and has an
impressive track-record with executing strategies to support the
customer experience and drive positive results. We're fortunate to
have such a high caliber retail executive join GameStop."
Prior to joining GameStop, Raines spent eight years with Home
Depot in various management positions in retail operations, including
serving as EVP for U.S. Stores and President of the Southern Division
of the Atlanta-based company. Raines was responsible for more than
2,000 stores and $70 billion in sales activity. He also has extensive
international expertise covering Latin America, Asia and Europe. Prior
to Home Depot, he spent four years in global sourcing for L.L. Bean
and 10 years with Kurt Salmon Associates in their consumer products
group. In all, Raines brings more than 22 years of senior level
experience in corporate management to the COO position.
"The opportunity to help lead the GameStop team is truly
energizing and a privilege," Raines said. "I'm excited to be joining a
vibrant company in a booming growth industry and be surrounded by such
a committed group of executives."
ABOUT GAMESTOP
Headquartered in Grapevine, TX, GameStop Corp. is the world's
largest video game and entertainment software retailer. The company
operates 5,557 retail stores in 16 countries worldwide. The company
also operates two e-commerce sites, GameStop.com and EBgames.com, and
publishes Game Informer(R) magazine, a leading multi-platform video
game publication. GameStop Corp. sells new and used video game
software, hardware and accessories for video game systems from Sony,
Nintendo, and Microsoft. In addition, the company sells PC
entertainment software, related accessories and other merchandise.
General information on GameStop Corp. can be obtained at
www.gamestopcorp.com.
CONTACT: Media Contact:
Chris Olivera
Vice President, Corporate
Communications & Public Affairs
GameStop Corp.
(817) 424-2130
or
Investor Contact:
David W. Carlson
Executive Vice President &
Chief Financial Officer
GameStop Corp.
(817) 424-2130
SOURCE: GameStop Corp.
