GameStop to elect Cohen as chairman following annual meeting

A GameStop store is pictured amid the coronavirus disease pandemic in the Manhattan borough of New York January 27, 2021. — Reuters pic
A GameStop store is pictured amid the coronavirus disease pandemic in the Manhattan borough of New York January 27, 2021. — Reuters pic

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NEW YORK, April 8 — GameStop Corp, which has been part of a recent Reddit-driven trading frenzy, said today it intends to elect Ryan Cohen, the videogame retailer’s biggest shareholder and board member, as chairman following its annual meeting.

Shares of GameStop were up about 3 per cent in premarket trading.

The company also said it was nominating six people to stand for election to its board at the annual meeting of stockholders on June 9.

Since billionaire Cohen joined GameStop’s board in January, he has been pushing towards transformation of the brick-and-mortar retailer into an e-commerce firm that can take on big-box retailers such as Target Corp and Walmart Inc and technology firms such as Microsoft Corp and Sony Corp . — Reuters

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