Investor Presentaiton
Stockholder Outreach and Board Refreshment
BOARD REFRESHMENT & MANAGEMENT SUCCESSION
ā Leading up to our Annual Meeting, our Board engaged with stockholders representing 87% of our outstanding shares as of
April 20, 2020, including Hestia-Permit, demonstrating our proactive and robust stockholder outreach program through
which we directly heard valuable stockholder feedback and encouragement of GameStop's Board refreshment, corporate
strategy, capital allocation and corporate governance
Our Board appointed six new independent directors with highly desired skillsets within the last two years - including
onboarding two directors pursuant to a cooperation agreement entered into with Hestia-Permit last year
ā Our Board recruited GameStop's new management team in 2019, which is successfully leading the Company's execution of
GameStop Reboot and adroitly steering the Company through the COVID-19 crisis with prudent decision-making on capital
allocation and debt reduction
Thoughtfully maintained two key directorships for an additional year to ensure necessary and appropriate knowledge
transfer
Following the 2020 Annual Meeting, 9 of 10 directors will be independent and 7 of 10
directors will have Board tenures of 2 years or less
GameStop
POWER TO THE PLAYERS
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Replacing half the Board in one year after 10+ years of
underperformance, including a 65% decline in stock value
during 2019, is not a best-in-class Board refreshment practice.
Poor management succession planning has led to 5 CEOs in 3
years. Company just lost its CAO, and principal accounting
officer, while in the process of closing the books for Q1 2020.
GameStop's new Board was near last to close its stores and cut
executive pay during the Covid-19 crisis as compared to its proxy
peers.
The retention of two long-tenured, ineffective directors with
irrelevant skillsets and little stock ownership does not add value
for stockholders.
If Board continuity was truly desired, the Board could have
seriously considered our offer to expand the Board to add one
stockholder in March 2020.
As Chairman of the Nominating/Governance Committee since 2010, Jerome Davis should be held
directly responsible for the Board's poor succession planning and refreshment process
restore
GameStop
Source: Stockholder Group Analysis, Company's public filings.
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