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GameStop Corp.’s board tapped Chewy Inc. co-founder Ryan Cohen to lead a committee dedicated to transforming the retailer.

The move comes as GameStop faces pressure to deliver results that measure up to its recently inflated share price that was driven up by online trading mobs.

GameStop said Monday that the new Strategic Planning and Capital Allocation Committee will be led by Mr. Cohen, who last year bought a large stake in GameStop and began pushing the company to revamp its business model. He is joined on the new committee by Alan Attal, Chewy’s former top operations executive, and Kurt Wolf, an executive at investment firm Hestia Capital Management LLC who also has been agitating for change at GameStop.

The committee will “continue to focus on identifying actions that can transform GameStop into a technology business and help create enduring value for stockholders,” the company said.

Messrs. Cohen and Wolf have been pushing for change at the retailer for some time.

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