Reggie Fils-Aimé Criticises GameStop Management’s Lack Of “Articulated” Strategy
Reggie Fils-Ami was at SXSW this weekend to talk about the current turmoil in the entertainment industry. During his appearance on the show, he was asked what he thinks about several things, including the Facebook metaverse.
Naturally, in the same speech, the former president of Nintendo of America was also asked about GameStop. Reggie served on the retailer’s board of directors from April 2020 to June 2021. GameStop was another of many companies hit hard by the pandemic and rising digital sales. Reggie joined the board of directors, hoping he could help the company. “The gaming industry needs a healthy and vibrant GameStop,” he said of his appointment at Twitter back in 2020. “I look forward to being part of the GameStop corporate board and helping make this happen.”
At SXSW, Reggie backed this up and reaffirmed his belief that GameStop could be successful if it adapted and expanded into e-commerce – Chewy CEO Ryan Cohen was brought on the board for this. Still, Reggie wanted to be part of that effort, he said, was “refused.”
Bloomberg’s Emily Chung
When Bloomberg’s Emily Chung asked what Reggie had to say about the company’s strategy now, he didn’t give much praise to her direction:
“There was no formulated strategy. Management says we don’t want to formulate our strategy because they don’t want it to be stolen. It was unacceptable for me.”
You will remember that the announcement of Reggie’s departure came just a few months after GameStop’s short-term squeeze and subsequent price gouging. Although Reggie spoke briefly about this period, he did not directly state the reason for his departure from GameStop, nor did he reveal how much he sold his shares for. At the very least, it seems that the difference of opinion caused him and several other prominent council members to leave.
You can see the entire discussion about GameStop by SXSW at Bloomberg.
What do you think of Reggie’s comments at GameStop? Let us know about it in the comments.