June 23 (Reuters) – GameStop said on Tuesday its board had granted the request of CEO Ryan Cohen to withdraw his proposed performance award, as the company shifts its focus towards the potential acquisition of eBay .
Cohen said he wants the company’s leadership fully focused on GameStop’s operating performance and the acquisition.
The award, which the board had approved in January, was decided before GameStop decided to pursue eBay.
In May, eBay rejected a $56 billion takeover bid from the much smaller GameStop over financing doubts, calling the proposal “neither credible nor attractive.”
(Reporting by Jaspreet Singh in Bengaluru; Editing by Anil D’Silva and Sahal Muhammed)
Comments