GameStop names Ryan Cohen as CEO effective immediately, won't receive salary
Publishing timestamp: 2023-09-28 10:59:47
Summary
Ryan Cohen, the billionaire activist investor and founder of Chewy, has been appointed as the CEO, president, and chairman of GameStop. He will not receive any compensation for his work. The announcement initially caused GameStop's shares to surge in premarket trading, but they fell over 3% after the market opened. Cohen had previously held the title of executive chairman and will step down from that role. This move comes after GameStop fired its previous CEO, Matthew Furlong, and made Cohen the executive chairman. Cohen is also the largest shareholder of GameStop. The company recently reported its second-quarter financial results, showing a narrower loss compared to the previous year and a slight increase in revenue.
Sentiment: NEUTRAL
Keywords: business, chewy inc, gamestop corp, retail industry, gaming software, breaking news: business, business news, meme stocks,
Source: https://www.cnbc.com/2023/09/28/gamestop-names-ryan-cohen-as-ceo-effective-immediately.html