• Email Us: [email protected]
  • Contact Us: +1 718 874 1545
  • Skip to main content
  • Skip to primary sidebar

Medical Market Report

  • Home
  • All Reports
  • About Us
  • Contact Us

GameStop Chief Executive Officer George Sherman Getting Millions For Leaving The Company

May 5, 2021 by Jennifer Preston Leave a Comment

GameStop recently announced the ‘Chief Executive Officer Succession Plan’ under which it announced that Chief Executive Officer George Sherman will quit the post before July 31 this year. But it seems that it is a lucrative time for Sherman and some other executives as they will be getting millions while departing. The vested stock of four executives currently valued at roughly USD 290 million. As per the agreements of separation between the company and executives, a provision allows them to vest stock awarded to them during their tenure while leaving the company. Such an agreement is not something very new and allows executives to sell their shares. Shares of GameStop are currently at an all-time high.

Three of the four executives that are leaving had joined the company in 2019. GameStop has already stated that it searching for Sherman’s replacement and his last day in the office would July 31 or even earlier. As per the exit agreement signed by him, he will be vested with more than 1.1 million GameStop shares. According to a securities filing, this is roughly valued at USD 169 million. The severance package could be even more but the outgoing CEO agreed to give up at least USD 5 million in cash. He also gave up stock valued at roughly USD 47 million for reasons not known. Sherman was once one of the largest individual shareholders of the company as he held roughly   2.4 per stake in the company.

Former finance chief James Bell held a share that was recently worth USD 43.6 million. Though the company has not given any official reason behind his departure it is believed that he was forced to leave by Ryan Cohen. The other one to resign from the company is Frank Hamlin, whose shares valued at USD 33.5 million. Chris Homeister is also about to leave the company and has nearly 289,000 shares due to vest. The approximate value of them would be USD 43.6 million. Executives leaving the company with big severance packages are not new. John Legere got USD 137 million in compensation while he was leaving T-Mobile in 2020.

Jennifer Preston
Jennifer Preston

Related posts:

  1. Uber in talks to sell UberEats’ business in India to Zomato
  2. Jeff Bezos To Step Down As Amazon CEO Later This Year, Andy Jassy His Successor
  3. With Focus On Electric Motorcycles, Harley-Davids on Nominated Ford CEO Jim Farley To Board of Directors
  4. Amazon CEO Jeff Bezos Speaks On ‘Gruelling’ Working Conditions Of Employee

Filed Under: Technology

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

  • Michigan Bear Finally Free After 2 Years With Plastic Lid Stuck Around Its Neck
  • Pangolins, The World’s Most Trafficked Mammal, May Soon Get Federal Protection In The US
  • Sharks Have No Bones, So How Do They Get So Big?
  • 2025 Is Shaping Up To Be A Whirlwind Year For Tornadoes In The US
  • Unexpected Nova Just Appeared In The Night Sky – And You Can See It With The Naked Eye
  • Watch As Maori Octopus Decides Eating A Ray Is A Good Idea
  • There Is Life Hiding In The Earth’s Deep Biosphere, But Not As You Know It
  • Two Sandhill Cranes Have Adopted A Canada Gosling, And It’s Ridiculously Adorable
  • Hybrid Pythons Are Taking Over The Florida Everglades With “Hybrid Vigor”
  • Mysterious, Powerful Radio Pulse Traced Back To NASA Satellite That’s Been Dead Since 1967
  • This Is The Best (And Worst) Sleep Position
  • Artificial Eclipse, Dancing Dinosaurs, And 50 Years Of “JAWS”
  • The Longest-Reigning Monarch In History Is Someone You’ve Never Heard Of
  • World’s First Microfiber Recycling Center Plans To Combat Ocean Pollution At Its Source – Our Homes
  • Dancing Dinosaurs May Have Used Site In Colorado As “Largest Lekking Arena In The World”
  • World’s Largest Digital Camera To Reveal Revolutionary First Images On Monday – And You Can Watch Live
  • Common Brain Parasite Infecting Up To 30 Percent Of Americans Disrupts Neuron Communication
  • First Clear Example Of A “Ghost” Mantle Plume Discovered Beneath Arabia
  • “Some People Took JAWS As A License To Kill”: 50 Years On, Can We Turn Fear To Fascination?
  • IFLScience The Big Questions: Would You Rather Go To Space Or The Bottom Of The Sea?
  • Business
  • Health
  • News
  • Science
  • Technology
  • +1 718 874 1545
  • +91 78878 22626
  • [email protected]
Office Address
Prudour Pvt. Ltd. 420 Lexington Avenue Suite 300 New York City, NY 10170.

Powered by Prudour Network

Copyrights © 2025 · Medical Market Report. All Rights Reserved.

Go to mobile version