Ryan Cohen Takes the Reins as GameStop CEO, Facing Uphill Battle to Transform Retailer

Ryan Cohen took control of GameStop after leading a short squeeze that sent the stock soaring in 2021. He has gradually amassed power, becoming chairman and now CEO.
GameStop faces challenges as physical game sales decline in favor of digital downloads. Cohen aims to shift it toward e-commerce and NFTs.
Neither e-commerce nor the NFT marketplace have taken off so far. GameStop's stock price has sunk since its 2021 highs.
With full control as CEO, Cohen now has no barriers to transform GameStop as he sees fit. If he fails, he has only himself to blame.
Cohen has a 12% stake in GameStop and is not taking a salary, despite his prominent roles. He first bought into the company in 2020.

qz.com

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