GameStop names Ryan Cohen as CEO effective immediately

GameStop said Thursday morning that billionaire activist investor Ryan Cohen would take over as the video game retailer’s chief executive.

Shares of the company jumped nearly 10% in premarket trading following the announcement.

GameStop said Cohen wouldn’t receive any compensation for his work as the company’s CEO, president and executive chairman.

The move comes more than three months after GameStop fired CEO Matthew Furlong while making Cohen executive chairman.

Read the release here.

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