{"id":115965,"date":"2021-03-08T14:48:18","date_gmt":"2021-03-08T14:48:18","guid":{"rendered":"https:\/\/precoinnews.com\/?p=115965"},"modified":"2021-03-08T14:48:18","modified_gmt":"2021-03-08T14:48:18","slug":"gamestop-taps-ryan-cohen-to-steer-shift-to-e-commerce","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/business\/gamestop-taps-ryan-cohen-to-steer-shift-to-e-commerce\/","title":{"rendered":"GameStop taps Ryan Cohen to steer shift to e-commerce"},"content":{"rendered":"<figcaption>FILE PHOTO: The GameStop store sign is seen at its shop in Westminster, Colorado January 14, 2014.   REUTERS\/Rick Wilking<\/figcaption><p>(Reuters) &#8211; GameStop Corp said it has picked shareholder Ryan Cohen as the head of a new committee to help the world\u2019s largest video game retailer transition to an e-commerce business, sending its shares 13% higher on Monday.<\/p>\n<p>Chewy.com founder Cohen has been pushing GameStop to move away from its traditional brick-and-mortar model since joining the board shortly before a social media frenzy drove a meteoric rise in the company\u2019s stock.<\/p>\n<p>The Strategic Planning and Capital committee, which will comprise of board members Alan Attal and Kurt Wolf along with Cohen, looks to take the company digital at a time when sales remain pressured by an exodus to digital downloads of console games and intensifying competition from videogame streaming services.<\/p>\n<p>Last week, Cohen, who is a major shareholder of GameStop, posted a cryptic tweet of an ice-cream cone, with analysts speculating on whether that was a trigger for GameStop\u2019s most recent rally.<\/p>\n<p>Cohen\u2019s RC Ventures activist firm reached a settlement with GameStop in January, giving Cohen seats on the company\u2019s board.<\/p>\n<p>Shares rose nearly 14% to $156.51 before the bell, after Bloomberg News first reported of the committee.<\/p>\n<p>Source: <a href=\"https:\/\/www.reuters.com\/article\/us-gamestop-activist\/gamestop-taps-ryan-cohen-to-steer-shift-to-e-commerce-idUSKBN2B019T\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>FILE PHOTO: The GameStop store sign is<\/p>\n","protected":false},"author":3,"featured_media":115964,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23051],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - 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