GameStop Appoints Chewy Founder Ryan Cohen as CEO
Cohen led Chewy to great success before joining GameStop's board in 2021
GameStop's stock price has surged since Cohen's involvement
GameStop has officially appointed Ryan Cohen, the founder of Chewy, as its new CEO. Cohen has been serving as the company's executive chairman since early June and has been a major shareholder of the company since 2021. Cohen's appointment comes as GameStop continues to navigate a challenging retail landscape, and the company hopes that Cohen's experience and expertise can help drive its turnaround.
Cohen is a successful entrepreneur who led Chewy to great success before joining GameStop's board. Under Cohen's leadership, Chewy became a leading online retailer for pet supplies and was eventually acquired by PetSmart for \$3.35 billion. Cohen's experience in e-commerce and his proven track record of success are expected to be valuable assets to GameStop as the company looks to compete with larger retailers.
Since Cohen joined GameStop's board, the company's stock price has surged. Cohen has been a vocal advocate for GameStop and has been working to improve the company's business model. GameStop has been struggling in recent years as the retail industry has shifted away from brick-and-mortar stores, but Cohen is confident that the company can be turned around. Cohen's appointment as CEO is a sign that the company is committed to making a change and is confident that Cohen is the right person to lead the company into the future.
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