Nintendo of America’s former CEO, Reggie Fils-Aimé, is stepping down from his new role at GameStop.
Fils-Aimé joined GameStop’s Board of Directors last year after retiring from his position at Nintendo in 2019. Now, the company has announced that it expects Fils-Aimé to step down in June, alongside eight other board members [via Kotaku]. The announcement was made via an SEC filing earlier this week, which details the changes to GameStop’s board of directors:
“…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. See Item 9B. Other Information of this Form 10-K. Turnover among our Board may disrupt our operations, our strategic focus or our ability to drive stockholder value. If we fail to attract and retain new skilled personnel for our Board, our business and growth prospects could disrupt our operations and have a material adverse effect on our operations and business.”
GameStop has had something of a turbulent year. From the detrimental effects of digital gaming to the Reddit stocks situation, GameStop has had a bit of a financial rollercoaster. The company also came under fire during the pandemic due to its insistence on opening during lockdown restrictions. Fils-Aimé hasn’t spoken about GameStop’s issues since joining its board of directors, so it’ll be interesting to see if that changes once he stepped down.
GameStop also had an earnings call this week, which turned out to be interesting. The company is still suffering financially, despite its surging stocks during 2020. GameStop suffered a financial loss of $215 million last year, with the pandemic being primarily to blame [via Business Insider]. It’s unclear why Fils-Aimé’s departure from GameStop is happening but hopefully we found out more soon.
Featured Image Credit: GameStop/Nintendo