GameStop is Now Running Without a CEO and CFO
GameStop (NYSE:GME) is now running without a CEO and CFO as the company announces that Chief Financial Officer Diana Saadeh-Jajeh will now resign in August after only a year with the company.
The CFO had taken her role amid a round of layoffs in July last year that also saw the previous CFO Mike Recupero leave the company.
Recupero also held the CFO role for only one year.
GameStop’s board of directors announced in June that the company had terminated CEO Matter Furlong, naming Ryan Cohen as Executive Chairman of the company.
“GameStop is already operating without a CEO, and it’s poised to go without a CFO as well, as the retailer today announced that CFO Diana Saadeh-Jajeh has given her resignation, effective August 11,” says Gaming Industry Biz.
Retail Dive says that executive leadership turnover has affected the video game retailer for the past several years with the impending departure of Saadeh-Jajeh continuing the streak.
In June, a case study showed that more than 473k shares had been purchased from insiders with 0 shares sold in the three months prior.
In the past 12 months, more than 762k shares have been purchased with only 3.8k shares being sold.
Ryan Cohen purchased GameStop stock worth $10 million in June with Directors Lawrence Cheng and Alain Attal also accumulating a total of 15k shares.
GME stock is up more than +27% this year-to-date and down more than -35% in the past year.
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