Jaher A Chowdhury
GameStop has officially appointed Ryan Cohen as its Chief Executive Officer, with immediate effect. It is noteworthy that Mr. Cohen will not be receiving any remuneration for his services in this role.
On Thursday morning, GameStop announced that Ryan Cohen, a billionaire activist investor, would assume the positions of Chief Executive Officer, Chairman, and President of the video game retailer with immediate effect. Notably, Cohen will not be receiving a salary for his services. Following the announcement, the company's shares experienced an initial surge in premarket trading, but subsequently fell by over 3% after the market opened. On Wednesday, GameStop's board, with Cohen abstaining, voted unanimously to appoint him as the retailer's top executive. Cohen had previously served as Executive Chairman, but will relinquish this role upon his latest appointment, as per a securities filing. According to a news release, Cohen will not be remunerated for his work.