GameStop Shake-Up is About to Put Reddit-Beloved Chewy Exec in Charge

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GameStop’s board of directors is, once again, preparing for another upheaval — with Ryan Cohen heading up a leadership takeover of Chewy veterans.

In an announcement today, GameStop revealed the candidates for its board of directors to be decided on at the annual meeting on June 9. They are Alan Attal (former Chewy COO and CMO), Larry Cheng (co-founder of tech-focused investment group Volition Capital, which was the first investor in Chewy), Jim Grube (former Chewy CFO), George Sherman (current GameStop CEO), Yang Xu (senior VP of global finance and treasury at Kraft Heinz), and Cohen, who will stand for election as chairman.

With this, GameStop’s board will be two-thirds run by people with Chewy connections, with Cohen at the head as he continues to play a major role in a push to transform GameStop into an e-commerce giant. His visibility and success with Chewy were also key factors in the Reddit-driven short squeeze of GameStop stock earlier this year.

Additionally, today Kurtis Wolf announced his resignation from the GameStop board of directors effective immediately. Wolf was instrumental in kicking off GameStop’s transformation before Cohen appeared on the scene, taking a place on the board last year after a multi-year shareholder dispute that shook up the board of directors multiple times and began the push for change at the company.

Notably, a number of other current board members are missing from this roster. Current board chair Kathy Vrabeck and directors Carrie Teffner, Raul Fernandez, Lizabeth Dunn, and James Symancyk indicated earlier this year they would not run for re-election, and former Nintendo head Reggie Fils-Aimé already announced his departure from the board after just a year. That leaves Paul Evans (who was notably appointed to the board alongside Wolf during last year’s board shake-up) and William Simon who had not previously announced a departure, but do not seem to be sticking around. Other recent company leadership departures have included CMO and executive VP Chris Homeister, CCO Frank Hamlin, and CFO Jim Bell.

GameStop’s continued shake-ups appear to be in preparation for a major shift in the company’s strategy after years of falling revenues. Its latest earnings call kept annoyingly silent about what these changes might actually, practically look like, but a recently announced equity offering program to sell up to 3.5 million shares of company stock indicates that wheels are in motion to turn the company’s finances around and raise money for major changes to come.


Rebekah Valentine is a news reporter for IGN. You can find her on Twitter @duckvalentine.

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