Sign In  |  Register  |  About Walnut Creek Guide  |  Contact Us

Walnut Creek, CA
September 01, 2020 1:43pm
7-Day Forecast | Traffic
  • Search Hotels in Walnut Creek Guide

  • CHECK-IN:
  • CHECK-OUT:
  • ROOMS:

GameStop names Ryan Cohen CEO

GameStop is naming billionaire Ryan Cohen as CEO, effective immediately. Cohen is the company's largest investor and replaces Matt Furlong, who was fired in June.

GameStop announced Thursday that it was naming Chairman Ryan Cohen as chief executive officer, effective immediately.

The company's board of directors elected Cohen, the company's largest investor, as president and CEO and said he will not receive compensation for serving as the company president, chief executive and chairman.

Former CEO Matt Furlong was fired in June.

REDDIT'S GAMESTOP SHORT SQUEEZE BECOMES 'DUMB MONEY' MOVIE

"Mr. Cohen will assume the role of principal executive officer from Mark H. Robinson effective immediately and his responsibilities will include the oversight of all other executive officers, including Mr. Robinson," GameStop said in an SEC filing. "Mr. Robinson will remain the company’s general counsel and secretary, with responsibilities including administrative matters, corporate development, and legal affairs."

Before joining the GameStop board of directors as chairman in 2021, the Canadian entrepreneur founded Chewy, an online retailer of pet food, in 2011 and remained with the company after its purchase by PetSmart in 2017 for $3.35 billion. He stepped down as the Chewy CEO in 2018.

AMAZON SUED BY FTC AND 17 STATES FOR ALLEGEDLY INFLATING ONLINE PRICES

The change in leadership comes after GameStop reported a jump second-quarter earnings in early September. The company posted net sales of $1.164 billion, compared with $1.136 billion in the same period a year ago.

MICROSOFT-ACTIVISION RESTRUCTURED $69B DEAL PLEASES BRITISH REGULATORS

Company shares have been battered the last year, slipping roughly 32%. Despite a pop in pre-market trading on Thursday, the stock value is now retreating. 

CLICK HERE TO READ MORE ON FOX BUSINESS

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
 
 
Copyright © 2010-2020 WalnutCreekGuide.com & California Media Partners, LLC. All rights reserved.