GameStop, the video game retailer, is facing yet another executive departure, as Chief Financial Officer Diana Saadeh-Jajeh has announced her resignation. Effective from August 11, Saadeh-Jajeh’s departure comes just over a year after she assumed the role.
Saadeh-Jajeh took office as CFO during a period of restructuring and layoffs last July. The period also saw the previous CFO, Mike Recupero, leave the company after a similarly short tenure.
Notably, GameStop has been experiencing a series of changes in its executive leadership, evident from the recent termination of CEO Matt Furlong in June. On that same day, the company reported a net loss of $50.5 million for the fiscal first quarter ending in April.
Interim Appointed
Regarding the CFO position, the retailer has not yet announced a direct replacement for Saadeh-Jajeh. However, the company confirmed that Daniel Moore, the current Vice President and Corporate Global Controller, will assume the roles of Principal Accounting Officer and interim Principal Financial Officer upon Saadeh-Jajeh’s departure.
GameStop’s efforts to transform itself into a technology-focused business have led to a wave of changes in its executive team, including bringing in executives from Amazon. The company’s push for transformation was led by Ryan Cohen, who was elected to the board by shareholders in January 2020, and later became the company’s Executive Chairman.
As GameStop navigates these executive transitions, shareholders and industry observers are keeping a close eye: the company might reflect an industry-wide trend we are yet to notice.
