Game over: GameStop CEO heading for the exits
Al Jazeera
GameStop, embraced by Reddit-fuelled day traders, is undergoing a major management shake-up, with CEO George Sherman stepping down on or before July 31.
GameStop Corp’s George Sherman will step down as chief executive officer in the biggest shake-up at the video game retailer, giving top shareholder Ryan Cohen more control as he leads the company’s shift to e-commerce. The company’s shares, which were at the heart of a Reddit-driven trading frenzy, jumped 9 percent in premarket trade on Monday after GameStop said Sherman would resign on or before July 31 and that it had started looking for a successor. Reuters had earlier reported that GameStop’s board was working with an executive headhunter on the CEO search and that its directors had spoken to potential candidates from gaming, e-commerce and technology sectors.
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