GameStop shares jump after retailer sets CEO’s exit date

GameStop shares jumped on Monday after the retailer said CEO George Sherman will leave before the end of July, ending a tenure marked by a struggle to reverse declining sales and missed performance targets.

Activist investor Ryan Cohen, recently named the company’s next chair, is spearheading a turnaround at the retailer that will prioritise online commerce over physical retail. As part of Cohen’s overhaul, the company’s brought in new executives, including officers in charge of growth an technology.

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