Olshan Clients Hestia and Permit Reach Agreement with GameStop for Board Representation
TheStreet,The Dallas News and other media sources reported on an agreement reached between Olshan clients Hestia Capital Partners LP and Permit Capital Enterprise Fund LP and GameStop Corp. under which two new independent directors will be added to the GameStop Board of Directors. Pursuant to the agreement, the Company will appoint an independent director from among the candidates nominated by Hestia and Permit. As part of the Board’s ongoing refreshment and search efforts, the Board will appoint an additional independent director who will be selected by the Board in consultation with Hestia and Permit. It is anticipated that the two new directors will join the Board on or before April 30, 2019. Steve Wolosky, Elizabeth Gonzalez-Sussman, and Ron Berenblat represent Hestia and Permit in connection with its investment in GameStop.