GameStop CEO George Sherman to step down by July 31

GameStop Corp. said Chief Executive George Sherman will step down by July 31, the latest in a series of changes to the videogame retailer’s leadership team since Chewy Inc. co-founder Ryan Cohen became a board member in January.

Mr. Cohen, who has been nominated as GameStop’s chairman, had urged the company to focus on e-commerce and reduce store count, among other initiatives. The company is now working to transform its decades-old bricks-and-mortar business to become more technology-centric.

Mr. Sherman has been chief executive officer of the Grapevine, Texas-based company since April 2019. The company on Monday pointed to its annual filing in March that said the board has retained a third-party firm to evaluate executive leadership.