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GameStop fired its CEO Wednesday with no explanation and abruptly canceled its earnings call, pushing at least one Wall Street analyst to reiterate a view the video game retailer remains "doomed."
(Reuters) -Ryan Cohen, the billionaire investor whose bet on GameStop Corp made him popular with meme stock traders, took over as executive chairman on Wednesday after the video game retailer ...
Shares of GameStop fell sharply Thursday after the company fired CEO Matthew Furlong, the former Amazon executive who was brought in two years ago to turn the struggling video game retailer around.
He joined GameStop as COO in 2008, became CEO in June 2010, and stepped down due to brain cancer in November 2017. [5] He received total compensation of $9.1 million in 2015 and $7.8 million in 2016. [6] Raines was a member of the board of directors of GameStop, J.C. Penney, and Advance Auto Parts.
The quant fund founded by the late Jim Simons cut its Tesla stake by 86% and halved its Nvidia wager. RenTech boosted its GameStop position by more than 40% to 1.9 million shares.
[11] [90] [91] [92] On January 17, 2023, Unity Technologies laid off 284 employees as part of a reassessment of objectives, strategies, and priorities in response to current economic conditions. CEO John Riccitiello explained that the layoffs were meant to reduce overlap and shelve certain projects to ensure the company's future strength. [91]
[110] [111] GameStop CEO George Sherman owns over 2.3 million shares in the company, according to Bloomberg News. These shares were worth $44 million on December 31, but reached $1.1 billion when GameStop's stock reached $469, briefly making him a billionaire, before the value of his stock dropped to $901 million on January 29.
GameStop has fired its Chief Financial Officer, Mike Recupero, and is making staff cuts across departments as part of an effort to turn around the videogame GameStop fires its CFO and announces ...