What you need to know
- GameStop chief financial officer and executive vice president Jim Bell announced his resignation today.
- Bell is fully stepping down from his role on March 26, with a search for a replacement underway.
- Senior vice president Diana Jajeh will be appointed interim chief financial officer if a replacement is not found by March 26.
GameStop chief financial officer (CFO) and executive vice president Jim Bell is resigning from the company, GameStop confirmed via press release, stating that "The Company thanks Mr. Bell for his significant contributions and leadership, including his efforts over the past year during the COVID-19 pandemic." Bell will be leaving the company on March 26, 2021.
GameStop is now looking for a replacement CFO, with a "leading executive search firm" aiding the process. GameStop notes that if a replacement CFO is not found by the time Bell steps down, then the company will appoint Diana Jajeh as the new interim CFO. Jajeh is currently senior vice president and chief accounting officer.
GameStop has been facing a very wide range of issues over the past several months, including limited business due to the global pandemic causing stores to close or follow specific protocols, with these issues culminating in a series of bets and trading halts as Reddit users waged digital war on a hedge fund that had been short squeezing GameStop stock in a back and forth that saw sensational attention.
As a result of these many issues, GameStop is in the middle of a transitional period in a year that'll be important for the future of the company as a whole. These transitions come at a time when the global pandemic appears to be slowly wrapping up as vaccines roll out.
