Heads have rolled following the announcement of GAME Group’s full year financial figures, which we reported on earlier. Chief Executive Lisa Morgan has stepped down to “pursue other opportunities” and has been replaced by Chris Bell the former head honcho at Ladbrokes. Also stepping down was the UK’s Chief Operating Officer Terry Scicluna.
GAME Group, which has over 700 GAME and GameStation stores in the UK and over 800 stores throughout Europe and Australia has attributed the plunging profits to the decline in videogame sales around the world, as well as the fact it has been some time since a major console release. The outlook for the coming year is possibly even more bleak despite the release of Natal, Move and possible new Nintendo hardware.
At this stage it’s not clear whether Lisa Morgan’s ‘pursuing of other opportunities’ involves spending more time with the family or becoming better acquainted with her garden, but that is what usually happens when a business has a near 28% drop in profits.
