Wednesday, February 24, 2021
Jim Bell's successor wanted
CFO stops at Gamestop
It's been less than two years since Jim Bell took over the finance department at Gamestop. Now he throws in the towel – not of his own free will, as it is called behind the scenes.
The video game retailer Gamestop, which caused a sensation in January due to extreme price volatility in the financial market, has to look for a new CFO. Incumbent Jim Bell will vacate the post on March 26, the company announced after the US market closed. Gamestop has started looking for a capable successor, should one not be found in time, chief accountant Diana Jajeh will take over the tasks first.
The company did not give a reason for Bell's resignation. His departure was not due to discrepancies. From management circles it was said, however, that the separation had originated from Gamestop, because Bell did not see the right financial director to advance the development of a technology-oriented company.
Gamestop has been in crisis for some time, but driven by hobby investors organized on the Internet, the company's shares had rallied breathtakingly last month. That in turn broke billions in losses for some hedge funds that had bet on a price decline. At the end of January, the share had reached a record high of over 483 dollars, but the soaring was quickly over – the price was last at just under 45 dollars. The resignation of the CFO led to further losses after the trading day.
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