GameStop’s Billionaire Investor Ryan Cohen Takes Over as CEO (1)

GameStop Corp. appointed billionaire Ryan Cohen as chief executive officer, filling a post that’s been empty since the company fired its previous CEO in June.

Cohen, who was already executive chairman and the company’s largest investor, will start immediately and won’t receive compensation, the company said in a regulatory filingThursday. He’ll also serve as chairman and president, and continue to engage in business pursuits outside of GameStop.

Ryan Cohen

Source: GameStop

The struggling chain has closed over 1,000 stores in recent years, nearly a fifth of the total. Sales of game CDs have suffered amid a shift to online purchases. GameStop’s software ...