GameStop initiates search for new CEO - sources

  • 9 months   ago
GameStop initiates search for new CEO - sources

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.

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.

Its stock is up almost 4,000% from a year ago, after it became the poster child of day traders betting on so-called meme stocks.

 

GameStop’s board is working with an executive headhunter on the CEO search, said the sources, who requested anonymity because the matter is confidential.

Several GameStop board directors are involved in the search and have spoken with potential candidates from the gaming industry, as well as the e-commerce and technology sectors, the sources said.

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