GameStop's New CEO Seeks 'Extreme Frugality' To Keep Boat Afloat: 'Treat Company Money Like Their Own'
Portfolio Pulse from Benzinga Neuro
Ryan Cohen, the new CEO of GameStop Corp., has emphasized the need for 'extreme frugality' to ensure the company's survival amid financial turbulence. Cohen, who will not be receiving a salary in his new role, has urged employees to scrutinize every expense and eliminate waste. Cohen's firm, RC Ventures, is GameStop's largest shareholder with a 12.09% stake. GameStop shares closed at $16.84 on Thursday, marking a nearly 9% decline for the year.
September 29, 2023 | 5:39 am
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GameStop's new CEO's emphasis on 'extreme frugality' could potentially lead to cost savings and improved financial health for the company. However, the company's shares have declined by nearly 9% this year.
The new CEO's strategy could potentially lead to cost savings and improved financial health for the company, which could positively impact the stock price in the long term. However, the company's shares have been declining this year, indicating that investors may have concerns about the company's prospects.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100