GameStop's board elects activist investor Ryan Cohen as CEO and president with immediate effect.
GameStop stock was rising sharply Thursday after Ryan Cohen was elected as president and chief executive. It’s a further bet that the activist investor can turn around the videogame retailer’s flagging fortunes.
GameStop shares were up 9.8% to $18.83 in premarket trading. The company said its board had elected Cohen as CEO and president with immediate effect. He won’t receive any compensation for the role. Cohen became executive chairman of GameStop in June, following the removal of former CEO Matt Furlong who had been pursuing a cost-cutting strategy.
Since then, the company reported a narrowed quarterly loss that boosted the shares. They remain, however, well off the heights reached during the meme-stock frenzy of 2021. Few analysts are still covering the stock. Wedbush’s Michael Pachter has a $6 target price on GameStop and Underperform rating, arguing back in June that GameStop will struggle to cut costs quickly enough to stem its losses.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
GameStop stock soars after Ryan Cohen named CEOShares of GameStop Corp. soared Thursday, after the consumer electronics retailer named Ryan Cohen as it president and chief executive officer, effective...
Consulte Mais informação »
GameStop names billionaire Ryan Cohen as CEO By ReutersGameStop names billionaire Ryan Cohen as CEO
Consulte Mais informação »
Sony Interactive Entertainment CEO Jim Ryan will retire in MarchSony Interactive Entertainment Chief Executive Jim Ryan will retire in March, Sony Group Corp. said in a statement on Wednesday, following nearly three...
Consulte Mais informação »
Sony Interactive Entertainment President and CEO Jim Ryan Slates His RetirementSony Group Corporation and Sony Interactive Entertainment (SIE) today announced that SIE President and CEO Jim Ryan has made the decision to retire in March 2024 after almost 30 years with the Play…
Consulte Mais informação »
Sony PlayStation boss Jim Ryan is retiring in March 2024Jim Ryan, Sony Interactive Entertainment's (SIE) President and CEO, is stepping down in March 2024.
Consulte Mais informação »