GameStop appoints Wizards Owner, and Technology CEO to Its Board

By Barbara Wenger
May 13, 2019

GameStop appoints Raul Fernandes, owner the NBA’s Washington Wizards and Lizabeth Dunn, CEO of Pro4ma Inc, technology services consulting firm, to its board, bringing the total number in the boardroom to 11, nine of whom are independent.

GameStop, the video-game an electronics retailer struggling to compete in the digital world, made the director appointments as part of a deal with two of its major shareholders: Permit Capital Enterprise Fund, L.P. and Hestia Capital Partners L.P.

“We look forward to leveraging their expertise across our organization and remain focused on aggressively pursuing innovative opportunities that create meaningful experiences for our customers and drive value for shareholders,” says Dan DeMatteo, GameStop’s executive chairman.

Fernandez is the vice chairman and owner of Monumental Sports, a private partnership that co-owns the NBA’s Washington Wizards, the NHL’s 2018 Stanley Cup Champion Washington Capitals, the WNBA’s Washington Mystics, Team Liquid eSports and Wizards District Gaming NBA 2K, as well as co-owns and operates Capital One Arena in Washington, D.C. He also serves as special advisor and limited partner to General Atlantic Partners, a growth equity firm. He is an active technology investor in disruptive companies across multiple verticals. He is the chairman of a leading SaaS fashion company, Snap+Style Business, and is also an investor in neurotechnology and brain health analytics company, SyncThink.

Dunn is the Founder and CEO of Pro4ma Inc, an information technology services consulting firm that provides cloud-based data forecasting and predictive analytics tools to retailers. She also is the Founder and CEO of Talmage Advisers, a retail and branded consumer products consulting firm that provides a full range of services across brand strategy, pricing analysis, financial benchmarking and transactional due diligence. Prior to founding these firms, Lizabeth served in various consulting and financial analyst roles for leading financial firms and retail organizations, including Macquarie Group, FBR, Thomas Weisel, Prudential Equity Group, Bear Stearns, Gap Inc. and Liz Claiborne. She holds a bachelor’s degree in economics from Spelman College.