HomeBusinessTop GameStop executive steps down after less than a year on the...

Top GameStop executive steps down after less than a year on the job

An individual walks previous a GameStop within the Manhattan borough of New York Metropolis, New York, U.S., January 29, 2021.

Carlo Allegri | Reuters

One of many GameStop’s newly employed prime executives stepped down this week because the online game retailer continues its digital transition.

Chief working officer Jenna Owens has departed her position at GameStop, the corporate introduced in a regulatory submitting on Friday. Owens, a former Amazon and Google government, was named to the position in March.

GameStop made a wave of administration adjustments earlier this yr as Chewy co-founder Ryan Cohen gained energy on the firm and the inventory soared, kicking off the meme frenzy that’s nonetheless rippling by way of Wall Road. Cohen, now the corporate’s chairman, has changed key executives as a part of a transfer to remake GameStop as a digital and e-commerce firm, although few particulars concerning the plan have been shared.

The corporate stated within the submitting that Owens’ duties can be taken on by different members of the administration group. Owens will obtain six months of her base pay and the remainder of her signing bonus as a part of the settlement, the submitting stated.

Shares of GameStop closed $183.51 per share on Friday. The inventory has traded as excessive as $483 per share this yr after dipping beneath $18 in January.

The GameStop saga sparked Congressional hearings and an investigation by the Securities and Change Fee. The SEC stated in a report earlier this month that strategies to encourage and gamify buying and selling by retail traders doubtless contributed to the frenzy however stopped in need of blaming any particular person firm or coverage.

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