finance chief is leaving weeks after a social-media-led frenzy sent the company’s share price soaring, only for it to fall afterward.
The Grapevine, Texas-based videogame retailer said Jim Bell will resign as executive vice president and chief financial officer March 26. He was appointed in June 2019. GameStop, which also sells consumer electronics and gaming merchandise, didn’t provide a reason for Mr. Bell’s departure but lauded “his significant contributions and leadership, including his efforts over the past year during the Covid-19 pandemic.”
The company said it has launched the search for a successor. It plans to appoint Chief Accounting Officer Diana Jajeh to the role of interim CFO if it doesn’t find a permanent replacement for Mr. Bell by the time he leaves. GameStop was one of the companies whose stock skyrocketed in late January, driven by posts on Reddit and other social-media sites. Its share price rose from about $20 to $483 over two weeks in January as individual investors encouraged each other online to buy the stock and squeeze out hedge funds that had bet its price would fall.The Morning Ledger provides daily news and insights on corporate finance from the CFO Journal team.
Great job, Doxing that driver.
He got paid
This article is better. 👍✨
Golden parachute in tow?
this is terrible news
Missed a golden opportunity to make a brand like Supreme imo