Summary by Moomoo AI
GameStop Corp. announced on November 18, 2024, that its Board of Directors has expanded from five to six members with the appointment of Nathaniel Turner as a director. Turner, who is the CEO and Chairman of Collectors Holdings, Inc., will serve on the GameStop board until the 2025 Annual Meeting of Stockholders. He has not been assigned to any board committees and will not receive compensation for his role as a director. This appointment follows a recent collaboration between GameStop and Collectors Holdings' Professional Sports Authenticator division, making GameStop an authorized dealer and providing authentication and grading services for trading cards. The collaboration has already resulted in transactions worth approximately $1.53 million. Turner holds up to a 10% equity interest in PSA and has potential additional equity at Collectors, contingent on meeting performance conditions. The company issued a press release on the same day to publicly announce Turner's election to the board.
