Chairman explains GAME reshuffle

The chairman of UK games retailer GAME Peter Lewis has, as part of the firm’s financial statement, explained the reasoning behind the departures of long-term CEO Lisa Morgan and COO Terry Scicluna.

His full statement is as follows:

The Board announced today that Lisa Morgan has stepped down from her role as CEO to pursue other opportunities. The Board and Lisa have agreed that this is the right time for a new CEO to lead the business through the next stage in its development. The Board thanks her for her exceptional contribution through her 14 years with GAME.

"The Board has commenced a search for a new CEO and pending this appointment has asked Non Executive Director Chris Bell to take up the role of interim CEO.

In light of the Board’s decision to commence a search for a new CEO, Terry Scicluna, UK Chief Operating Officer has informed the Board of his intention to step down. He will remain with the business through a handover period.

"Responsibility for the UK operating activities will be retained by Martyn Gibbs, former Managing Director of Gamestation, who was appointed GAME Group Managing Director of UK and Eire in March 2010.

In July 2009 Ben White (37) succeeded David Thomas as Group Finance Director, having been the Group’s Reporting and Investor Relations Director since 2005. In January 2010, Jean-Paul Giraud stepped down from the Board after two terms in office, and Dennis Woodside returned to the USA with Google as VP Americas Operations.

"In the same month, we announced the appointment of Dana Dunne (47), COO of Easyjet plc, and David Mansfield (56), former Chief Executive of Gcap plc, to our Board as non executive directors.

The three new directors bring a wealth of experience from different consumer industries and entertainment markets, all of which will further strengthen our Board. We thank the directors who have left us for their service and contributions to the Group’s direction and growth.

This has been a more challenging year for our employees throughout the Group, and I am grateful for their continued focus and professionalism. Our people are the heart of our consumer offer, and it is their dedication and support which helps us to give customers something extra in our stores and online.”