GameStop CEO George Sherman to step down by end of July, stock jumps

By
  Comments

Referenced Symbols

Shares of GameStop Corp. GME, +6.26% shot up 6.0% in premarket trading Monday, after the videogame retailer said Chief Executive George Sherman will step down no later than July 31, after two years in the role. He could step down earlier if a successor is appointed. The company said in its annual report filed in March that it was "evaluating executive leadership team skill sets related to changing business requirements," and had hired a third-party firm to help in the evaluation. "The board's Strategic Planning and Capital Allocation Committee is leading a search to identify Chief Executive Officer candidates with the capabilities and experience to help accelerate the next phase of the Company's transformation," the company said in a statement. The so-called meme stock has soared 293.0% over the past three months, while the S&P 500 SPX, -0.53% has climbed 10.2%.

Read Next

Read Next

Tesla's stock drops after reports of fatal crash of vehicle with apparently no driver

Shares of Tesla Inc. undefined dropped 2.5% in premarket trading Monday, after reports over the weekend about a fatal crash of a Tesla electric vehicle crashed, with no one driving it. Two people died in the crash, with one of the people in the front passenger seat and the other in the back seat, according to a report in The Wall Street Journal. A first responder at the crash said they were almost sure there was no one driving the car, the report said. It took about four hours and roughly 32,000 gallons of water to put out the fire, the report said. Tesla's stock had rallied 9.3% last week, and soared 19.6% amid a three-week win streak, but was still down 12.4% over the past three months through Friday, while the S&P 500 undefined has gained 10.2%.

More On MarketWatch

About the Author