GameStop Jumps as Chewy’s Cohen Tapped for E-Commerce Shift (3)

GameStop Corp. shares extended their rally after the company tapped Chewy.com founder Ryan Cohen to guide its transition to an e-commerce business.

Cohen, a director at the video-game retailer, will chair a new board committee tasked with the transformation, the company said in a statement Monday, confirming an earlier report by Bloomberg News. The new strategic planning and capital allocation committee will be comprised of Cohen, Alan Attal and Kurt Wolf, GameStop said.

Its shares soared as much as 20%, adding to gains that had pushed the stock up more than threefold over the prior two weeks. GameStop has ...