6/7, 10:15 PM (Source: TeleTrader)
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GameStop sacks old CEO, names Cohen executive chairman

GameStop Corp. revealed on Wednesday that it has terminated the company's now-former CEO, Matthew Furlong, without providing any further details regarding the decision.

In the same statement, it was also revealed that GameStop's Board of Directors has agreed to give Ryan Cohen, the board chairman, the title of executive chairman.

According to the company, his responsibilities will include "capital allocation and overseeing management." GameStop is expected to reveal its quarterly earnings report soon.

Baha Breaking News (BBN) / AY