The chief financial officer of US retailer GameStop is resigning from his position.
The company announced that the exec is leaving his role on March 26th, but hasn't given any reason for his departure. GameStop notes Bell's "significant contributions" to the company and his leadership during the COVID-19 coronavirus pandemic. The CFO and CEO George Sherman both took pay cuts in April 2020 for the duration of the pandemic.
While the firm hasn't found a permanent replacement, GameStop has appointed SVP and chief accounting officer Diana Jajeh as interim CFO.
"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," GameStop told investors.
Though we don't know if it played a role in Bell departing the company, his leaving does follow what has been a rather dramatic 2021 for GameStop so far. At the end of January and start of February, the company saw a ridiculous surge in stock price driven by Reddit users driving up the price to squeeze out short sellers. For much of 2020, GameStop stock was priced at around $5, but it hit an absurd $325 at the end of January. Currently it is trading at $44.97, as of the close of trading yesterday.
There are at least three TV or film adaptations in the works detailing the dramatic financial story.