Business

GameStop’s high supervisor resigns after lower than a 12 months on the job

A person walks past a GameStop in the Manhattan neighborhood of New York City, New York, the United States, January 29, 2021.

Carlo Allegri | Reuters

One of GameStop’s newly hired top executives resigned this week as the video game retailer continues its digital transition.

Chief Operating Officer Jenna Owens has left her role at GameStop, the company said in a regulatory filing on Friday. Owens, a former Amazon and Google executive, was appointed to the role in March.

GameStop made a wave of management changes earlier this year when Chewy co-founder Ryan Cohen took control of the company and stock skyrocketed, sparking the meme frenzy that still sweeps through Wall Street. Cohen, now the company’s chairman, has replaced key executives as part of the remake of GameStop as a digital and e-commerce company, although few details have been revealed about the plan.

The company said in the filing that Owens’ duties will be taken over by other members of the management team. Owens will receive six months of her base salary and the remainder of her signing bonus under the agreement, the filing says.

GameStop’s shares closed at $ 183.51 per share on Friday. The stock traded as high as $ 483 per share this year after falling below $ 18 in January.

The GameStop saga sparked hearings in Congress and an investigation by the Securities and Exchange Commission. The SEC said in a report earlier this month that methods of promoting and gamifying retail trading likely contributed to the frenzy but did not blame any individual company or policy.

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