GameStop Selects Activist Investor as Chairman

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Ryan Cohen

Image credit: Ryan Cohen, Twitter

GameStop has experienced a flurry of high-profile executive moves over the past couple of months as it retools its leadership to better adapt to e-commerce. Now, the video game retailer has announced that it intends to elect activist investor and Chewy co-founder Ryan Cohen as its next Chairman.

The company has nominated two new candidates to serve on its board of directors, Volition Capital Co-Founder and Managing Partner Larry Cheng and Kraft Heinz SVP of Global Finance and Treasury Yang Xu.

Cohen, who first joined GameStop’s board in January 2021, and the two new additions will be voted on by shareholders at the company’s annual meeting on June 9, 2021, according to the company's press release.

Cohen has been pushing the retailer to transform itself from a brick-and-mortar retailer into an e-commerce shop that can rival market leaders. To do so the company has made a slew of changes, including a slew of new hires from Amazon and other major e-commerce retailers.

Recently, GameStop appointed has Amazon's former Director of Distribution and Multichain Fulfillment as its new COO and named Matt Francis, a former engineering leader at Amazon Web Services, as its first-ever CTO. The video game retailer also hired Amazon and Chewy veteran Neda Pacifico as its new SVP of e-commerce and hired Zulily's VP of Supply Chain Technology, Ken Suzuki, as VP of Supply Chain Systems.

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