GameStop said on Monday that CEO George Sherman will resign as he pivots from a brick-and-mortar video game retailer to an e-commerce firm.
Sherman will step down on July 31 or sooner to appoint a successor, the company said in a statement.
Its board seeks to identify candidates for the post of executive director.
The development, first reported by Reuters last week, is GameStop’s biggest shakeup since Ryan Cohen, co-founder and former CEO of online pet food company Chewy, joined the company’s board in January.
GameStop has been in the process of changing its business from a brick-and-mortar retailer model to an e-commerce business that can compete with large-scale retailers like Walmart, as well as technology companies like Microsoft.