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GameStop CEO is leaving retailer with a $170million pay out

GameStop CEO - who oversaw falling sales and losses of $700m - leaves with $170million payout thanks to Redditors who boosted company value George Sherman will step down as chief executive officer at the end of July following a tenure marked by falling sales and losses of $700 million Despite that, he will walk away with a sweetheart deal turbocharged by Reddit Sherman, who has been CEO since April 2019, already forfeited $98 million worth of stock this month because he did not meet performance targets But he stands to receive a stock payout currently worth around $170 million That s because GameStop granted him more shares linked to his tenure at the company rather than to his performance as most companies do with their CEO

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GameStop loses CEO in latest management shakeup - Netscape Money & Business

GameStop loses CEO in latest management shakeup 04/19/2021 12:28 (Reuters) - GameStop Corp s George Sherman will step down as chief executive officer in the biggest shakeup at the video game retailer, giving top shareholder Ryan Cohen more control as he leads the company s shift to e-commerce. The company s shares, which were at the heart of a Reddit-driven trading frenzy, jumped 9% in premarket trade on Monday after GameStop said Sherman would resign on or before July 31 and that it had started looking for a successor. Reuters had earlier reported that GameStop s board was working with an executive headhunter on the CEO search and that its directors had spoken to potential candidates from gaming, e-commerce and technology sectors.

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Game over: GameStop CEO heading for the exits

GameStop Corp’s George Sherman will step down as chief executive officer in the biggest shake-up at the video game retailer, giving top shareholder Ryan Cohen more control as he leads the company’s shift to e-commerce. The company’s shares, which were at the heart of a Reddit-driven trading frenzy, jumped 9 percent in premarket trade on Monday after GameStop said Sherman would resign on or before July 31 and that it had started looking for a successor. Reuters had earlier reported that GameStop’s board was working with an executive headhunter on the CEO search and that its directors had spoken to potential candidates from gaming, e-commerce and technology sectors.

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GameStop shares soar AGAIN after CEO George Sherman announces his departure

GameStop Corp s George Sherman will step down as CEO at the end of July Company shares rose 8% before the opening bell on Wall Street on Monday Less than two weeks ago, the Grapevine, Texas, company announced the nomination of Chewy founder Ryan Cohen as chairman of the board Former CFO, Jim Bell, and former chief customer officer, Frank Hamlin, are among the senior executives who have also left the company in recent weeks The changes have coincided with the meteoric January rise of GameStop s shares thanks to the so-called Reddit rally

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GameStop loses CEO in latest management shakeup - EXCELSIO | News & Information

GameStop loses CEO in latest management shakeup - EXCELSIO | News & Information
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