GameStop CEO Ryan Cohen says he wasn’t interested in leading GameStop. However, he does actually aspire to be eBay’s CEO and asserts that he will do whatever it takes to acquire the iconic auction website.
GameStop, led by Cohen, proposed a $56 billion acquisition of eBay at $125.00 per share. The bid would be funded 50% in cash and 50% in GameStop stock, giving shareholders a choice of payment method. More importantly, the proposal would see Cohen assume a dual CEO role, overseeing both GameStop and eBay.
The initial report suggested that this was all part of Cohen’s strategy to make the GameStop brand into a powerhouse. It was also reported that Cohen’s pay is structured to incentivize him to increase GameStop’s profitability, and that if specific metrics are met, he could earn up to $35 billion in stock.
GameStop CEO Ryan Cohen Talks eBay Acquisition Strategy
In an interview with Business Insider, Cohen proclaimed that he would do whatever it takes to buy eBay. He also reaffirmed his desire to be CEO of both organizations. He also confirmed that he has not pulled a penny from GameStop’s finances and boasted that the auction website would be in a better financial position if it were managed more efficiently, saying, “There’s a ton of fat that can be cut.”
He’s now speaking out about his passion for leading eBay, something he claims he never had for the video game retailer. Quite simply, he’s not holding back in his claims that he was never passionate about leading GameStop.
“I did not want to be the CEO of GameStop. I want to be the CEO of eBay,” he said. “I’m passionate about eBay. I believe in eBay’s business. I wasn’t passionate about GameStop. That’s the difference.”
Insider Gaming will continue to monitor the story and report any details regarding GameStop and a potential eBay purchase.
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That does not look good saying that it’s like a kid. Ebay can help GameStop but you need someone who gets it.