GameStop Appoints Chewy Founder Ryan Cohen as CEO, Stock Surges

Ryan Cohen, the founder of Chewy, has officially been named the new president and CEO of GameStop. In an email to staff, Cohen emphasized the need for "extreme frugality" and stated that his mission is to operate the company hyper efficiently and profitably. GameStop has been struggling financially, with its stock plunging 38% in the past year and experiencing layoffs. Cohen's involvement in the company has drawn attention, but turning it around remains a challenge as it faces competition from digitally sold games and big retailers like Amazon.