Billionaire Ryan Cohen Takes Over As GameStop CEO, Seeks To Lead Turnaround

Ryan Cohen, co-founder of Chewy, named CEO of struggling retailer GameStop where he already serves as board chairman.
Cohen will not receive compensation for CEO role, president, or chairman positions.
GameStop stock surged in January 2021 after amateur investors coordinated on Reddit to drive up share price.
GameStop has struggled with executive turnover, shift to digital game downloads, and competition from online retailers.
Investors hope Cohen's plan to revamp GameStop's business will lead to a successful turnaround.