economy
GameStop CEO Cohen spurns $35 billion pay plan to focus on eBay deal
Ryan Cohen, the CEO of GameStop, will not receive a potential performance award and plans to unveil more details about his bid to takeover eBay soon.
TL;DR
- Ryan Cohen will not receive a potential performance award from GameStop.
- Cohen plans to unveil more details about his bid to takeover eBay soon.
- GameStop previously rejected a $56 billion takeover bid from eBay.
- Cohen wants GameStop leadership focused on operating performance and the acquisition.
- The company will release additional materials regarding the eBay acquisition this week.
- Cohen has steered GameStop to profitability through cost cutting, including store closures.
- GameStop posted a 14% rise in quarterly revenue earlier this month.
- GameStop's board approved a new $2 billion share repurchase program.