GameStop Corp said on Monday Chief Executive Officer George Sherman would resign, as it pivots from a brick-and-mortar video game retailer to an e-commerce firm.
Sherman will be stepping down on July 31 or earlier upon the appointment of a successor, the company said in a statement.
Its board is searching to identify chief executive officer candidates.
The development, first reported by Reuters last week, is the biggest shakeup at GameStop since Ryan Cohen, the co-founder and former chief executive of online pet food company Chewy Inc , joined the company's board in January.
GameStop has been in the process of shifting its business away from the brick-and-mortar retailer model into an e-commerce business that can compete with large-scale retailers such as Walmart Inc, as well as technology companies Microsoft Corp and Sony Corp.
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