GameStop Corp. (NYSE:GME) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On May 9, 2018, the Board of Directors of GameStop Corp. (the “Company”) appointed Daniel A. DeMatteo as interim Chief Executive Officer, effective immediately. The appointment follows the resignation for personal reasons of Michael K. Mauler as the Chief Executive Officer and as a director of the Company on May 9, 2018. Mr. Mauler’s resignation is not due to any disagreement with the Company regarding its financial reporting, policies or practices or any potential fraud relating thereto.
In connection with Mr. Mauler’s resignation, 23,324 shares of restricted stock and accumulated dividends will be released from transfer restrictions in accordance with the Company’s Retirement Policy. Otherwise, Mr. Mauler will not be entitled to severance or other separation benefits in connection with his resignation.
As interim Chief Executive Officer, Mr. DeMatteo will continue to serve as the Executive Chairman and a director of the Company. At this time, changes to Mr. DeMatteo’s compensation arrangements with the Company have not been determined. The Company will file an amendment to this Form 8-K when such arrangements have been determined.
Item 8.01 Other Events.
On May 11, 2018, the Company issued a press release announcing the leadership changes described above. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
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99.1 |
Press Release issued by GameStop Corp., dated May 11, 2018.
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GameStop Corp. ExhibitEX-99.1 2 exhibit991may112018.htm EXHIBIT 99.1 Exhibit Exhibit 99.1 GameStop Announces Appointment of Daniel A. DeMatteo as Interim Chief Executive Officer and Resignation of Michael K. Mauler Grapevine,…To view the full exhibit click here
About GameStop Corp. (NYSE:GME)
GameStop Corp. is an omnichannel video game retailer. The Company sells video game hardware, physical and digital video game software, video game accessories, as well as mobile and consumer electronics products and other merchandise through its GameStop, EB Games and Micromania stores. The Company operates its business in four Video Game Brands segments: United States, Canada, Australia and Europe, and Technology Brands segment. Each of the Video Game Brands segments consists of retail operations, with all stores engaged in the sale of new and pre-owned video game systems, software and accessories. Its Video Game Brands stores sell various types of digital products, including downloadable content, network points cards, prepaid digital, prepaid subscription cards and digitally downloadable software, and also sell certain mobile and consumer electronics products and collectible products. Its Technology Brands segment includes its Spring Mobile and Simply Mac businesses. GameStop Corp. (NYSE:GME) Recent Trading Information
GameStop Corp. (NYSE:GME) closed its last trading session down -0.36 at 12.69 with shares trading hands.