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GameStop Shuffles Management

2 Jun, 2010 By: Erik Gruenwedel

GameStop Corp., the nation’s largest video game retailer, June 2 said it promoted existing executives into new positions within the company, including J. Paul Raines to CEO from COO.

Former CEO Daniel DeMatteo assumes the position of executive chairman from CEO; Tony Bartel becomes president from EVP, merchandising and marketing; and Robert Lloyd is named EVP and CFO from SVP, interim CFO. As announced in January, Michael Mauler was promoted to EVP, GameStop International.

R. Richard (Dick) Fontaine will continue in his role as Chairman International, partnering with DeMatteo and Mauler on the growth of GameStop’s network of more than 2,000 international stores.

Grapevine, Texas-based GameStop, which also operates the MovieStop video store chain, said the promotions reflect an evolving game industry beyond console-based platforms to multichannel distribution.

“Paul, Tony, Rob and Mike are filling key positions that will allow GameStop to continue its growth both here and internationally,” said DeMatteo. “This includes expansion into new markets and continued focus on strategic initiatives such as our new loyalty program, downloadable content marketing and sales, and the evolution of GameStop.com.”

Despite downward sales of video games, GameStop reported net income of $75.2 million in its most recent financial period.

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