GameStop chief financial officer Jim Bell will resign from his position effective March 26, according to a release from the video game retailer.
“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 the Tuesday release.
GameStop has begun a search for Bell’s replacement, and said that it would appoint chief accounting officer Diana Jajeh as interim CFO if it was unable to find a permanent candidate for the role by Bell’s resignation date.
The company did not provide a reason for Bell’s resignation.
“Mr. Bell’s resignation was not because of any disagreement with the Company on any matter relating to the Company’s operations, policies or practices, including accounting principles and practices,” the company said in a filing with the U.S. Securities and Exchange Commission.
GameStop said it has hired an executive search firm to find a permanent CFO “with the capabilities and qualifications to help accelerate GameStop’s transformation.”
GameStop’s stock dropped 3% in after hours trading Tuesday.
Bell’s resignation comes after day traders organizing on Reddit led a surge in GameStop’s stock price from $20 a share to $483 over a two-week period in January.
GameStop has attracted the attention of activist investors and its leadership has also seen a number of shakeups in recent years. Between 2017-2019 the company had seen four different CEOs as GameStop talked about transforming the company into one that could thrive in a world where more video games are being sold digitally than ever before.
