Reggie Fils-Aime To Leave GameStop Board Of Directors Later This June, New Corporate Filings Reveals

Posted on March 27, 2021 by Nick Moreno

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More than a year ago, the world view surrounding brick-and-mortar video game retail GameStop was followed by pity for what the storefront once was. However, while the times of commercialism evolves into a digital-dependent life force, physical stores are to suffer the most from this new direction the market is heading. But while GameStop has went to launch geek memorabilia retailer ThinkGeek, the store eventually closed its doors.

So it was inevitable that a similar fate would arrive to GameStop in the coming years or even months. However, one change that really surprised the industry is when former Nintendo of America CEO Reggie Fils-Aime was revealed to be joining the Board of Directors for the video game retailer. However, before Fils-Aime left a bigger impact on the company, he is now set to retire from the administration.

In the latest Form 10-K filing done by GameStop for the United States Securities and Exchange Commission (SEC), the corporate GameStop issues that Fils-Aime will be departing from the board of Directors later this June.

This Form 8-K also disclosed that, pursuant to the Agreement, we agreed that effective at our 2021 annual meeting of stockholders (the “2021 Annual Meeting”), the size of the Board would be reduced from the current 13 directors to nine directors and that the Board would nominate for election the individuals identified in the Form 8-K for election as directors at the 2021 Annual Meeting.

As of the date of this Form 10-K, the Board has not determined the definitive slate of nominees but currently expects that the following incumbent directors will retire from the Board at the 2021 Annual Meeting: Lizabeth Dunn, Paul Evans, Raul J. Fernandez, Reginald Fils-Aimé, William Simon, James K. Symancyk, Carrie W. Teffner and Kathy P. Vrabeck. The contemplated retirements are not because of a disagreement with us on any matter relating to our operations, policies or practices.

In recent waves in regards to how GameStop is performing, it is no secret the attention the firm has received – especially on the Stock Market. Since February, GameStop $GME has faced a 300% increase in stock value and at one point tipping over $500 per share. However, the tides appear to have calmed, but the value is still well beyond what it was priced before the surge.

Additionally, corporate GameStop also welcomed r/WallStreetBets Ryan Cohen to its new Strategic Planning and Capital Allocation Committee. The initiative is told to be a new pursuit for GameStop to overcome a slump with the help from the firm those responsible for the company’s increased stock value. You can read the full report by heading here.

Did you support Fils-Aime when in GameStop’s Board of Directors?

Source: GameStop

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