Shares of GameStop Corp.
GME,
shot up 6.0% in premarket buying and selling Monday, after the videogame retailer mentioned Chief Executive George Sherman will step down no later than July 31, after two years within the position. He might step down earlier if a successor is appointed. The firm mentioned in its annual report filed in March that it was “evaluating executive leadership team skill sets related to changing business requirements,” and had employed a third-party agency to assist in the analysis. “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 corporate mentioned in a press release. The so-called meme stock has soared 293.0% over the previous three months, whereas the S&P 500
SPX,
has climbed 10.2%.
