- Push-out Score determined
- After less than two and a half years in the position
- Praise and thanks for Sherman
- Search for a successor
- Sherman said 85 words
(exechange) — Grapevine, Texas, April 19, 2021 — George Sherman, chief executive of GameStop, leaves. As announced by GameStop Corp. in a news release and in a regulatory filing published on Monday, April 19, 2021, George E. Sherman leaves his post as chief executive officer at the video game retailer after less than two and a half years in the role, effective on July 31, 2021, or earlier upon the appointment of a successor.
GameStop will undertake a search for a successor.
“Changing business requirements”
George Sherman’s departure from the CEO post is explained as follows. GameStop said: “As disclosed in GameStop’s Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 23, 2021, the Board has been evaluating executive leadership to ensure the Company has the right skills to meet changing business requirements.”
Precise information regarding George Sherman’s future plans was not immediately available.
GameStop said: “George Sherman will be stepping down as Chief Executive Officer on July 31, 2021, or earlier upon the appointment of a successor.”
Share price increase since April 2020
The announcement follows an increase in GameStop Corp.’s share price of 4660% since April 2020.
In the position of CEO since 2019
George Sherman became CEO of the Company in 2019.
Sherman is a director and is the Company’s Chief Executive Officer.
Prior to his appointment as the Chief Executive Officer in April 2019, Sherman served since January 2017 as the Chief Executive Officer of Victra, one of the largest authorized retailers for Verizon Wireless in the U.S. with more than 1,140 Verizon branded retail stores in 46 states.
Sherman, who has a long background in the retail industry, had previously served three years (April 2013 to December 2016) as president of Advance Auto Parts based out of its operations center in Raleigh, North Carolina and as interim CEO from January through April 2016.
During his tenure, he helped merge and integrate Raleigh-based General Parts International following its acquisition in 2014.
Sherman has also served in senior leadership roles at Best Buy and Home Depot.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding George Sherman’s move on a scale of 0 to 10.
exechange reached out to GameStop and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 17.2021 ($).