GameStop Names Billionaire Activist Ryan Cohen as CEO
Cohen Tightens Grip on Video Game Retailer
Key Details
- GameStop has appointed Ryan Cohen as its new CEO and chairman.
- Cohen is a billionaire investor and GameStop's largest individual shareholder.
- He replaces Matthew Furlong, who has been fired as CEO.
- Cohen has been an outspoken critic of GameStop's management and has pushed for major changes.
In a statement, GameStop said that Cohen's appointment "marks a new chapter" for the company. Cohen is expected to bring his experience in e-commerce and technology to GameStop, which has been struggling to compete with online retailers.
Cohen's appointment is the latest in a series of changes at GameStop. The company has been under pressure from activist investors who have criticized its management and performance. Cohen has been a vocal critic of GameStop's former CEO, George Sherman, and has called for changes to the company's strategy.
It remains to be seen whether Cohen can turn around GameStop's fortunes. The company has been struggling for years, and it faces intense competition from online retailers.
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