- On Monday, GameStop announced that Chewy co-founder and former CEO Ryan Cohen is taking a board seat at the company and installing two other board members from his past at Chewy. Together, they’ll make up a third of the company’s new board.
- In September, GameStop’s stock price leapt as Cohen bought up a boatload of shares. He currently owns over 12% of the company’s stock.
- GameStop is by far the world’s largest video game retailer, but the company has been struggling for years as game sales shift from physical retail stores to digital downloads.
- The coronavirus pandemic provided an unexpected boost for the video game industry, which had a huge year in sales — and GameStop benefited greatly from that sales boon: The company’s online sales surged over 1,500% soon after coronavirus lockdowns started in late March.
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Wall Street darling Ryan Cohen takes board seat at GameStop
