With the new movie Dumb Money in theaters now, it’s not a surprise GameStop is back in the news, and this company doesn’t do anything small! About three months ago GameStop fired their CEO Matthew Furlong abruptly. It was just announced today that Ryan Cohen has been appointed the company’s CEO, President, and Chairman (and probably the company’s #1 hypeman, janitor, and receptionist while he’s at it). In even better news he won’t receive compensation for his work. Ryan Cohen, who’s already a Billionaire activist investor can afford to take on the job with no salary. That said, he already has a 10% stake in GameStop, so you know what better person to head up the company than an investor?!?!. He originally made his Billions as the founder of Chewy, you know the online dog food and pet supply company.
Ryan Cohen has a nice nickname, being called the “King” of meme stocks stemming from his purchase of GameStop stock in 2020. He recently bought into failing Bed Bath & Beyond accumulating a 10% stake, which the SEC is now investigating his trades in the stock. Hold onto your crown Mr. Cohen because I think things are about to get real busy in your new role as CEO of GameStop.
GameStop names Ryan Cohen as CEO effective immediately, won’t receive salary