Sumary of GameStop says it will name Ryan Cohen chairman:
- GameStop announced Thursday that Chewy co-founder Ryan Cohen will become its chairman after the company’s annual shareholder meeting, which is scheduled for June 9..
- The stock has retreated from some of its sky-high gains since a surge in late January, but is still up more than 835% this year, giving the company a market value of $12.4 billion..
- Cohen invested in GameStop last year, to push the video game retailer to focus on online sales and shutter unprofitable stores in malls..
- The transition is part of a broader management shake-up taking place at GameStop as it tries to turn its business around….