GameStop just named an Amazon alum as its new CEO, the latest in a string of executive appointments hailing from the e-commerce giant

gamestop line
Customers line up for the launch of “Grand Theft Auto 5” in 2013 at a GameStop.

  • GameStop just hired a new CEO: Matt Furlong, a former senior leader at Amazon.
  • GameStop has reshaped its executive suite around former Amazon leaders.
  • The charge is being led by newly appointed GameStop board chairman and Chewy cofounder Ryan Cohen.
  • Visit the Business section of Insider for more stories.

The world’s biggest video game retailer just appointed a new chief executive officer: Former Amazon executive Matt Furlong is taking over as CEO of GameStop, the company announced on Wednesday.

Furlong is joined by another former Amazonian in Mike Recupero, who is taking over as chief financial officer.

The two new top executives are part of a fully revamped c-suite that includes chief growth officer Elliott Wilke, who oversaw a variety of initiatives at Amazon, former Amazon fulfillment director Jenna Owens (COO), and former Amazon Web Services engineering lead Matt Francis (CTO). Furlong most recently oversaw Amazon’s Australia operations and Recupero was CFO of the North American consumer business.

The new executive team made up entirely of former Amazon leaders fits right in with the long-term plans of newly-elected board chairman and activist investor Ryan Cohen.

Cohen is spearheading a company-wide “transformation” at the ailing retailer which is intended to turn GameStop into the “Amazon of gaming.” To do that, he’s spent months slowly replacing leadership.

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Cohen, who cofounded Chewy and acted as CEO before it sold to PetSmart for $3.35 billion in 2017, does not have a background in the video game industry. His claim to fame is outfoxing Amazon at its own game – e-commerce – in a specific category: pets. That’s an especially meaningful claim to fame when it comes to Wall Street, which saw Cohen’s involvement in the company as a reason to buy the ailing retailer’s stock before Reddit found it.

As GameStop’s stock value rocketed north of $400 earlier this year, the company barely acknowledged the stock value explosion and Cohen declined requests for interviews.

“Moving forward, we want you to judge GameStop based on our actions – not our words,” Cohen told shareholders during the company’s annual meeting on Wednesday, where he was elected chairman of the board, according to a representative. “As my dad would say, buckle up.”

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Corporate executives set to join effort to increase voter access in the wake of new voting laws: WSJ

In this Jan. 19, 2018, file photo, American Express Chairman and CEO Kenneth Chenault listens during an interview with The Associated Press in New York. Chenault was chief executive officer and chairman of American Express until Jan. 31. In his last interview before retiring, Chenault talked to The Associated Press about the new tax law, being a black CEO, and what greater competition means for AmEx.
Kenneth Chenault.

  • Top business leaders met on Zoom this weekend to map out their response to new voting restrictions.
  • The WSJ reported that CEOs were asked to sign a statement opposing restrictive voting legislation.
  • “This is a nonpartisan issue, this is a moral issue,” Kenneth Chenault, former CEO and Chairman of American Express, told the Journal last month.
  • See more stories on Insider’s business page.

Numerous chief executives and senior leaders met on a Zoom call this weekend to map out how businesses should respond to new voting restrictions that are set to be enacted in Texas and other states across the country, according to The Wall Street Journal.

In the wake of the controversy surrounding Georgia’s new voting law, SB 202, with Major League Baseball pulling the 2021 All-Star Game from the state and companies like Coca-Cola and Delta pushing back against restrictive voting provisions, this effort would represent a significant development in the corporate sector weighing in on voting rights.

During the call, Kenneth Chenault, the former chief executive of American Express, and Kenneth Frazier, the chief executive officer of Merck & Co., asked the leaders to “collectively call for greater voting access,” according to the Journal report.

Chenault and Frazier, two of the most prominent Black business leaders in the US, also reportedly told businesses not to walk away from the voting right issue and requested that CEOs sign a statement “opposing what they view as discriminatory legislation on voting.”

The statement from a new constellation of business leaders could be released as soon as this week, according to the Journal.

Last month, 72 Black executives signed an open letter that was featured in The New York Times, asking for companies and business leaders to offer pushback against legislation that would infringe on voting rights.

Chenault informed the business executives on the call that several leaders would back the effort, including executives at PepsiCo, PayPal Holdings, T. Rowe Price, and Hess, among other companies.

“This is a nonpartisan issue, this is a moral issue,” he told the Journal last month.

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Frazier said that as an increased number of states take up legislation similar to Georgia’s SB 202, companies have to take action.

“This is not a Georgia issue,” he told the Journal.

The Georgia law tightens election rules in the state by limiting drop boxes, strengthening voter identification requirements, and blocks the use of mobile voting vans, among other measures.

Mellody Hobson, the chairwoman of Starbucks Corp., said on the call that the controversies surrounding the new voting laws are “bad for business” and hopes that businesses can devise ways to work on voting issues, according to the Journal.

AMC CEO Adam Aron, Estée Lauder Cos. director Lynn Forester de Rothschild, and CyberCore Technologies CEO Tina Kuhn all reportedly backed the new statement, according to the Journal report.

As some companies have become increasingly vocal about voting access, Republican leaders from Gov. Brian Kemp of Georgia to Senate Minority Leader Mitch McConnell of Kentucky have railed against pushback to the new legislation.

Kemp has accused business leaders of adhering to “cancel culture” and McConnell recently warned them not to become “a vehicle for far-left mobs.”

But some companies are hesitant to jump into any hotly-debated political issue altogether, aware that any position that take could alienate a portion of their business or customer base.

“It’s really a no-win situation from a corporate standpoint,” a Fortune 100 business executive told the Journal.

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Apple CEO Tim Cook says he doesn’t expect to be running the company a decade from now

Tim Cook Apple Park speech
Apple CEO Tim Cook in January.

  • Apple CEO Tim Cook has been running the company for just shy of 10 years.
  • In another 10 years, though, Cook expects to have stepped down from his role.
  • In a new interview, Cook said he didn’t know what’s next after Apple.
  • Visit the Business section of Insider for more stories.

Tim Cook became the CEO of Apple just shy of 10 years ago, following the death of cofounder Steve Jobs.

And in another 10 years, Cook doesn’t expect to still be at the company, he said in a new interview with The New York Times.

“Ten more years? Probably not,” Cook said. “I can tell you that I feel great right now. And the date’s not in sight. But 10 more years is a long time, and probably not 10 more years.”

Cook has been with Apple for over 20 years. He joined in the late ’90s and helped it to rethink operations. When Jobs died in 2011, Cook took over executive duties and became the new face of the company.

Since then, Cook has unveiled new iPhones, Apple Watches, and other products.

tim cook jony ive iphones
Jony Ive, Apple’s chief design officer, and Cook inspect the iPhone XR during an event on September 12, 2018, in Cupertino, California.

He oversaw Apple’s incredible rise in value: Its market cap is just over $2 trillion. He’s also taken on the role of government liaison and appeared multiple times with President Donald Trump.

As for what he’ll do after Apple, Cook appeared to be just as in the dark as everyone else.

“I don’t have a clue,” he said in the Times interview, “because I love this company so much that it’s hard to imagine my life without it.”

Got a tip? Contact Insider senior correspondent Ben Gilbert via email (bgilbert@insider.com), or Twitter DM (@realbengilbert). We can keep sources anonymous. Use a nonwork device to reach out. PR pitches by email only, please.

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