Ryan Cohen Maps Out GameStop Turnaround Plan
Bloomberg 4 hrs ago Olga Kharif and Anders Melin
(Bloomberg) Perhaps no one, not even the day traders’ hero called Roaring Kitty, is more responsible for the improbable 700% rally in GameStop Corp. this year than Ryan Cohen.
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At 35 years old, Cohen is a billionaire entrepreneur with a reputation for a Midas touch after building the pet-supply site he co-founded Chewy into a booming business. And so when word got out in mid-January that he had secured three seats on GameStop’s board after amassing a 13% stake, shares of the video-game retailer exploded. What had just been something of a run-of-the-mill outperformance in the bull market turned into a parabolic surge overnight.
GameStop Turnaround Artist Ryan Cohen Is Remaking Chain for the Meme Era
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GameStop Announces CEO to Step Down, Sending Stock Rising
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EXCLUSIVE GameStop initiates search for new CEO -sources
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April 13, 2021
published at 6:53 AMReuters A GameStop store is seen in the Jackson Heights neighborhood of New York City, New York, US, on Jan 27, 2021.
Reuters
GameStop Corp is looking for a new chief executive to replace George Sherman as it pivots from a brick-and-mortar video game retailer to an e-commerce firm, three people familiar with the matter said on Monday (April 12).
It would be the biggest shakeup at GameStop since Ryan Cohen, the co-founder and former chief executive of online pet food company Chewy Inc, joined its board in January and began laying the groundwork for a shift in culture and strategy, people familiar with his work at GameStop said.