GameStop promotes key execs

US retailer GameStop has announced a number of executive promotions, with current COO J. Paul Raines being promoted to CEO.

As part of the reshuffle existing CEO Dan DeMatteo becomes executive chairman, concentrating on the firm's existing network of US retail stores.

In turn existing chairman Dick Fontaine will continue in the role of chairman international, overseeing GameStop's growing number of over 2000 non-US stores.

Other changes include executive vice president of merchandising and marketing Tony Bartel, who will take the newly created role of president. His particular responsibilities will be GameStop's online strategy and expansion into digital distribution.

Interim CFO Robert Lloyd has also now become full CFO and executive vice president. Finally, senior vice president of supply chain and international support Michael Mauler becomes the company's international executive vice president.

"I am pleased to congratulate the team along with our board on the execution of this succession plan that has been two years in the making," said DeMatteo.

"Paul, Tony, Rob and Mike are filling key positions that will allow GameStop to continue its growth both here and internationally. 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 into a robust digital platform," he added.

Like all traditional retailers GameStop has endured a difficult few years, following the advent of digital distribution, but the company reported positive full year results in March. During the 2009 financial year GameStop recorded its second highest earnings results ever, despite an overall net drop of 5.3 per cent.