GameStop on Monday said CEO George Sherman would resign because it was moving from a video game retailer to an e-commerce business.
Sherman will retire on July 31 or earlier from the appointment of a successor, the company said in a statement.
The council wants to identify candidates for CEOs.
The development, first reported by Reuters last week, is the biggest stir at GameStop since Ryan Cohen, co-founder and former CEO of online pet food company Chewy, joined the company’s board in January.
GameStop is shifting its business from the brick-and-mortar retail model to an e-commerce business that can compete with large-scale retailers like Walmart, as well as technology companies like Microsoft.