Ryan Cohen, who became CEO of GameStop in September 2023, will not pursue a substantial performance-based compensation package that was contingent on dramatically improving the company's market value and profitability. This decision comes as GameStop prepares to provide more information about its proposed acquisition of eBay, which was previously rejected by eBay for being financially unviable.
Cohen emphasized the need for GameStop's leadership to concentrate on both the company's operational performance and the acquisition efforts. Recently, GameStop reported a 14% increase in quarterly revenue, driven by strong demand for collectibles, and announced a new $2 billion share repurchase program.
These developments reflect Cohen's aggressive strategy to stabilize and grow GameStop, which has included significant cost-cutting measures and store closures