GameStop taps Amazon veteran as its new CEO

GameStop, the video-game retailer whose manic stock movements captivated Wall Street this year, said Wednesday that it's brought on a pair of Amazon veterans as its new chief executive and chief financial officer to aid in its digital turnaround.

Matt Furlong, who most recently oversaw Amazon's Australia business and spent nine years with the company, will start as CEO on June 21, the company announced. Mike Recupero, who most recently was CFO of Amazon's North American consumer business, will begin as chief financial officer at GameStop on July 12. GameStop's stock has been on a wild rocket ride, soaring more than 1,500% this year as waves of smaller-pocketed investors piled in on hopes that it can transform itself into an ecommerce powerhouse after seeing sales of video games at its brick-and-mortar stores falter. Investors pinned much of their hopes on Ryan Cohen, a major investor who co-founded Chewy, the online seller of pet supplies.