Former Nintendo of America president Reggie Fils-Aime is stepping down from GameStop’s board of directors after little over a year.
As spotted by Nintendo Wire, the news was buried in a SEC filing that detailed a list of board departures including Fils-Aime that could prove disruptive.
“Turnover among our Board may disrupt our operations, our strategic focus or our ability to drive stockholder value,” reads the form. “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.”
Fils-Aime joined the GameStop board as the company sought to revitalize a struggling business and reshape its image, and the following year was eventful to say the least thanks to a stock market fiasco centered around the fabled ‘GME’.
GameStop’s latest fiscal report shows the company managed to successfully grow its e-commerce business by 191 percent year-over-year, although the segment still only accounted for around 30 percent of overall net sales.
Overall, GameStop reported a $215.3 million net loss during 2020, although it claims the COVID-19 pandemic and the end of two console generations played a part in that decline.