GameStop trims chief operating officer in latest executive shakeup

By Claudia Assis

Videogame retailer fired its CEO in June

GameStop Corp. said late Thursday that Chief Operating Officer Nir Patel is departing the videogame retailer, effectively immediately.

GameStop (GME) said Patel's responsibilities will be "absorbed" by other executives. Patel came to GameStop in 2022 after previously serving as chief executive of the department-store chain Belk Inc. for a little less than a year.

Patel's departure is the latest management shakeup at the videogame retailer. GameStop fired Chief Executive Matt Furlong in June, and elevated activist investor Ryan Cohen as its executive chairman. Cohen was appointed CEO in September.

GameStop late last month reported a quarterly miss. The stock is down 48% in the past 12 months, compared with an advance of around 26% for the S&P 500 index SPX.

-Claudia Assis

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04-04-24 1700ET

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