SAN JOSE (dpa-AFX) - GameStop Corp. (GME), a video game and electronics retailer, Wednesday said that its Board of Directors has approved the request of Chairman and Chief Executive Officer Ryan Cohen to remove the CEO Performance Award, which was approved in January this year. This was before GameStop decided to move on with the acquisition of eBay Inc. (EBAY).
According to the company, Cohen is of the opinion that GameStop management should be completely focused on improving its operating performance and the upcoming eBay acquisition.
GameStop Corp said that it will release additional materials in the upcoming week outlining the strategic rationale and operational plan for the combined business.
On the NASDAQ, GME ended Tuesday's trading at $21.08, down 0.28 percent. In overnight trading, the stock rose 0.95 percent to $21.28.
On the NASDAQ, EBAY ended Tuesday's trading at $108.97, up $4.03 or 3.8 percent. In overnight trading, the stock was up 0.49 percent at $109.50.
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