Executive Vice President and Chief Financial Officer of GameStop, Jim Bell, resigns from his role on March 26. His resignation comes after the rise and fall of GameStop’s stock.
“The company thanks Mr. Bell for his significant contributions and leadership, including his efforts over the past year during the COVID-19 pandemic,” GameStop said in a press release.
About a month ago, a Reddit page, r/WallStreetBets, drove up the price of the stock. The shares, which started at $347.51 in January, went up 1,915% — then dropped down to $45. It is not clear if Bell’s resignation has anything to do with the trading frenzy. Still, when CNN Business asked GameStop about Bell’s departure, they said that they would “not provide any further comments at this time concerning the announcement.”
The company is looking to replace him.
“The Company has initiated a search for a permanent Chief Financial Officer with the capabilities and qualifications to help accelerate GameStop’s transformation. A leading executive search firm has been retained to support the process. Internal and external candidates will be evaluated,” GameStop said in a press release on their website.
