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

A person passes near a GameStop in the Manhattan borough of New York City, New York, US, January 29, 2021.

Carlo Allegri | Reuters

One of GameStop’s newly appointed senior executives resigned this week as the video game retailer continues its digital transformation.

Gina Owens, COO, has left her role at GameStop, the company announced in a regulatory filing Friday. Owens, a former Amazon and Google executive, was appointed to the role in March.

GameStop made a flurry of management changes earlier this year as Chewy co-founder Ryan Cohen gained strength in the company and the stock soared, sparking an outbreak of the meme frenzy that continues to rage on Wall Street. Cohen, now the company’s chairman, has replaced key executives as part of a move to re-establish GameStop as a digital and e-commerce company, although few details about the plan have been shared.

The company said in the filing that Owens’ duties would be taken up by other members of the management team. The memo said Owens would receive six months of her base pay and the remainder of her signature bonus as part of the agreement.

GameStop shares closed at $183.51 a share Friday. The stock has traded as high as $483 per share this year after dropping below $18 in January.

The GameStop saga sparked congressional hearings and an investigation by the Securities and Exchange Commission. The SEC said in a report earlier this month that trade promotion and manipulation tactics by retail investors likely contributed to the madness but stopped short of blaming any individual company or policy.

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