GameStop, the video game retailer at the center of a recent stock market trading frenzy, has announced that its Chief Financial Officer, Jim Bell, will step down on March 26, 2021.
Last month, GameStop’s share price reached $483 (up from $17.25 at the start of the month) at the height of an attempt by retail investors to short squeeze hedge funds who bet against the video game store’s stock.
The company has initiated a search for Bell’s replacement and is reviewing both external and internal candidates. The company’s ideal candidate will possess the capabilities and qualifications to help accelerate GameStop’s transformation into a major e-commerce player.
If the company hasn’t found a suitable replacement by March 26, its Chief Accounting Officer, Diana Jajeh, would step into the role.
Jajeh is a seasoned corporate finance executive who has accrued over two decades of experience in a variety of positions. Prior to joining the video game retailer, she held senior roles at Visa and e.l.f. Cosmetics. She initially started her career at PwC.
In the company’s press release, GameStop thanked Bell for his “significant contributions and leadership, including his efforts over the past year during the COVID-19 pandemic.”
This isn’t the first major executive move to follow the stock market drama as earlier this month the video game store hired its first-ever Chief Technology Officer, as well as a Customer Care and a Fulfillment leader. The moves come as GameStop’s largest shareholder, Ryan Cohen, has criticized the company’s top executives for its slow embrace of the industry’s shift to a digital economy.
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