GameStop is adding a new member to the board of directors. Billionaire Ryan Cohen who is known for finding pet foods will be joining the board along with 2 other members. It is no surprise for some as GameStop is losing money so bring in these people make sense. On the other hand it is interesting to see what they bring to the table.
“GameStop has announced this week that it is immediately appointing three new directors to the board in agreement with RC Ventures, one of the company’s largest stockholders that is managed by pet food company Chewy co-founder Ryan Cohen. Those three new directors are Alan Attal, Jim Grube, and Cohen. It is no secret that GameStop has been struggling of late, closing hundreds of stores last year alone. The number of closed stores only grows when you take into account recent history beyond 2020.
These new directors are specifically being added in order to “accelerate transformation,” according to GameStop. “We believe the Company can enhance stockholder value by expanding the ways in which it delights customers and by becoming the ultimate destination for gamers,” Cohen said as part of the announcement. “Alan, Jim and I are committed to working alongside our fellow directors and the management team to continue to transform GameStop. In addition, we intend to bring additional ownership perspectives to the boardroom.”
Article:GameStop Adds Pet Food Billionaire to Its Board of Directors (comicbook.com)
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