GameStop’s departing CEO to get ‘unconscionable’ package worth $173M after 2 years on the job
Updated 10:39 PM;
Has saying goodbye ever been so lucrative?
George Sherman, hired as CEO of GameStop Corp. two years ago, is leaving the Grapevine-based video game retailer with an exit package valued at $127 million, according to a regulatory filing.
Sherman also will get a big pay bump in June, about a month before his scheduled departure, when another 308,477 company shares will vest and become his. At GameStop’s closing price of just over $151 a share on Friday, those holdings would be worth roughly $46.6 million.
In total, Sherman will be walking away from GameStop with a package worth over $173 million, although the actual value will depend on the stock price, which has been highly volatile — and is the reason for the big payouts.