A month after the “GameStop” saga, the company’s chief financial officer has resigned


After several tumultuous weeks for GameStop, the company announced on Tuesday that its CFO and Deputy CEO, Jim Bell, will be resigning from his position on March 26.

GameStop has begun searching for a new CFO “with the capabilities and qualifications to help accelerate the company’s transformation,” referring to the company’s efforts to shift its focus from physical retailing to online retailing.

The announcement comes after nearly a month of the trading frenzy caused by the WallStreetBets page on “Reddit”, which caused a huge rise, and, later, a drop, in the shares of “GameStop”.

GameStop shares have risen since the start of the year until January 27, when the stock closed at $ 347.51, or nearly 1.915%. GameStop is currently trading at around $ 45, a significant drop but still higher than where it started this year.

The event gave GameStop massive publicity, drawing everyone from the White House and Janet Yellen to billionaires like Mark Cuban and Elon Musk.

CNN inquired from the company about the reason for Bell leaving, as a company spokesman said, “GameStop will not make any further comments at this time regarding the announcement.”

In a press release, “GameStop” said it “thanks Mr. Bell for his great contributions and leadership, including his efforts during the past year during the Coronavirus pandemic.”

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Source: Al-Ayyam newspaper


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