Creative advancement at GameStop __»

June 9, 2010

We’re always amused when companies start ginning up fancy new titles in response to a simple truth: Sometimes, when you want to keep up-and-coming talent with a juicy promotion, the person in the next spot up isn’t quite ready to leave. The solution? Give everyone a new title!

We can only assume that something along those lines happened at GameStop (GME) earlier this month, judging from its 8-K filing on June 2. Ready?

Chief Operating Officer J. Paul Raines was named chief executive, getting a salary raise to $1 million and potentially doubling his bonus to $2 million, from his existing $1 million target.

Of course, Daniel A. Matteo was already CEO. He got bumped up to executive chairman — a spot occupied by R. Richard Fontaine. Fontaine was dubbed “chairman international,” duties to be designated by Matteo and a contract expiring March 3, 2013 (no extensions, and no apparent change in pay).

Et voilâ¯: New business-cards all around, and no one left in the cold.

Two other executives got promotions as well, though it doesn’t look like the moves risked displacing anyone. Tony D. Bartel, the executive vice-president for of merchandising and marketing, was made president; and Robert A. Lloyd, interim chief financial officer and chief accounting officer, got the CFO title for real.

We aren’t shareholders of GameStop, so we have to admit that this is all a little abstract. Part of us wants to see how many more levels they can take it before the high scores are tallied — we’re holding out for Universal Poobah and Chairman Supreme. We’ll keep you posted.

Image source: loop_oh via Flickr

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