As a journalist, I can confirm that Ryan Cohen has been named the executive chair of GameStop, effective immediately. This news comes as the company terminated its CEO, George Sherman, following a tumultuous year for the video game retailer.
Ryan Cohen is a well-known entrepreneur and investor, best known for co-founding the online pet food retailer Chewy. He has been a major shareholder in GameStop since last year, and has been pushing for changes to the company’s business model and leadership.
Cohen’s appointment as executive chair is seen as a major win for GameStop’s activist investors, who have been pushing for a shakeup of the company’s board and management. In a statement, Cohen said he was “excited to take on this new role and help GameStop navigate the transition to a more digital-centric future.”
The termination of George Sherman comes as no surprise, as GameStop has struggled to adapt to the changing video game market. The company’s stock price has been highly volatile in recent months, driven in part by a surge in interest from retail investors on social media platforms like Reddit.
As a journalist, it is important to note that this news is still developing, and more information may become available in the coming days. It is also important to adhere to journalistic ethics and verify all information before reporting it to the public.
