Entering text into the input field will update the search result below

Activist Investor Ryan Cohen Will Have Majority Of The GameStop Board Seats After The Annual Meeting

Jan. 11, 2021 10:08 AM ETGameStop Corp. (GME)CHWY12 Comments
endrow profile picture
endrow's Blog
Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.


  • GameStop announces additional board refreshment to accelerate transformation.
  • Activist investor Ryan Cohen and two other former Chewy members are getting a chair in the board immediately.
  • Ryan Cohen will have the majority of the board seats after the annual meeting.

News just came up that former Chewy ($CHWY) founder and CEO billionaire activist investor Ryan Cohen just got three seats on the GameStop ($GME) board.

From the press release:

...the Board will be reduced to nine members following the Annual Meeting.

The Company’s anticipated slate of director nominees for the Annual Meeting includes the following nine individuals: Alan Attal, Ryan Cohen, Paul Evans, Reginald Fils-Aimé, Jim Grube, George Sherman, William Simon, Carrie Teffner and Kurt Wolf.

This means that after the annual meeting Ryan Cohen will have 5 supporters on the board (including himself), while the board will consist a total of 9 members.

That means that soon he might even be appointed as new CEO of GameStop.

Ryan Cohen can also still up his 12.9% position by over 50%, up to 19.9% of the outstanding shares if he wants.

GameStop also released their holiday sales results today, which brought a 309% increase in e-commerce sales and a 4.8% increase in comparable store sales YoY.

Analyst's Disclosure: I am/we are long GME.

The writer of this article started investing in 2019 with ~$35 000. He made over $450 000 realized profit in just two stocks in two years, one of which is GME. Currently the writer is heavily invested in 2021 July $13 calls and also invested in leap 2022 calls.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Recommended For You

To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.