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GameStop CEO search may top Ryan Cohen's housecleaning
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GameStop is shaking up the executive suite yet again, according to reports.
On the chopping block: chief executive officer George Sherman, as reported by Reuters citing people familiar with the matter. A GameStop spokesperson did not immediately return FOX Business' request for comment. The video-game retailer is reportedly working with an executive headhunter on the search.
The move marks GameStop's biggest, but not the first, executive shakeup sinceRyan Cohen, the co-founder and former chief executive of online pet food company Chewy Inc, joined the company's board in January and sits as the largest individual shareholder.
Other executives who have departed Gamestop include chief financial officer Jim Bell and chief customer officer Frank Hamlin.
RC Ventures, Cohen’s investment firm, has amassed an approximately 13% stake in GameStop with the goal of transforming the company into a major e-commerce player that sells a wide variety of merchandise with fast shipping.
GameStop recently reported that its global e-commerce sales surged 175%, representing 34% of net sales in the fourth quarter of fiscal 2020. For the full year, global e-commerce sales increased 191%, representing nearly 30% of total net sales.