GameStop names billionaire Ryan Cohen as CEO

FILE PHOTO: Traders work under signage for GameStop Corp. (NYSE: GME) on the trading floor at the New York Stock Exchange (NYSE) in Manhattan, New York City, U.S., August 8, 2022. REUTERS/Andrew Kelly/File Photo

(Reuters) -GameStop on Thursday named Ryan Cohen as its CEO and chairman, giving the billionaire activist investor more power to spearhead a turnaround of the video game retailer.

Cohen will relinquish that title of executive chairman, a role that he had taken on after the company ousted former CEO Matt Furlong in June.

Shares of the retail investor darling jumped 6% in premarket trading.

(Reporting by Aditya Soni in Bengaluru; Editing by Arun Koyyur)