GameStop announced this week that a proposed pay package worth approximately $35 billion for its CEO, Ryan Cohen, was in the works. The compensation is tied entirely to the company’s performance and depends on a major turnaround. To earn it, Cohen must increase GameStop’s market value by more than 10 times and significantly raise profits.
Meeting these goals would require a big change for GameStop, which has struggled in recent years. Its stock price is also severely down from the record highs reached in 2021, when GameStop gained popularity among retail investors during the meme-stock surge.
Even at the beginning of the pandemic in 2020, GameStop was already planning on matching the number of store closures from the previous year.
