The guy who started GameStop mania will soon be chairman of the board
CNN
George Sherman may still be the CEO of meme stock poster child GameStop. But it looks like Chewy co-founder Ryan Cohen is really running the show.
GameStop (GME)said Thursday that it planned to nominate Cohen, whose investment firm RC Ventures owns a nearly 13% stake in the company, to be its next chairman following GameStop's annual meeting on June 9. The company also said Thursday that following the annual meeting, all board directors will be compensated entirely in stock -- which presumably will motivate them to take action to boost the price further. Board members will also have their compensation reduced by nearly 30% from a year earlier.
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