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GameStop Taps Amazon Vet as CEO; Share-Sale Plan Sinks Stock
- As new management steps in, GameStop plans to issue shares
- Latest results, meanwhile, come in ahead of analyst estimates
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GameStop Corp. is tapping a pair of Amazon.com Inc. executives to lead the company and may sell millions of additional shares to raise money, part of a drive to convert the brick-and-mortar chain into an e-commerce powerhouse.
Matt Furlong, who oversaw Amazon’s Australian business, will become chief executive officer of GameStop, while fellow Amazon veteran Mike Recupero will serve as chief financial officer, the video-game seller said Wednesday. Furlong starts on June 21, and Recupero begins work July 12.