Game has hired an investment fund boss to head up its remuneration committee, replacing Hailo founder Caspar Woolley.

Dimitri Goulandris, who will join the nomination committee and audit and risk committees immediately, is the founder of investment firm The Cycladic Group and formerly worked for Morgan Stanley’s private-equity arm.

Game, which is grappling with a rapidly changing gaming and entertainment market, racked up full-year losses in the year to July 29 despite its attempts to steady the business with its burgeoning events branch.

Game made a statutory pre-tax loss of £10m, compared with a pre-tax profit of £1.1m the previous year.

It said its UK retail performance was impacted by a challenging market – particularly in the first half, with a weaker line-up of new game launches compared with the prior year and under-performance of a key new release.

Its new events business, which centres on in-store pay-to-play gaming arenas, saw losses widen to £6m despite GTV jumping 116% to £13.2m.

The retailer currently has around 18 Belong-branded in-store gaming arenas and hopes to have 35 arenas open by the end of its current financial year.