GameStop COO quits after seven months of work


The Texas-based company didn’t say why Owens was leaving. The file shows that the two sides reached a separation agreement that went into effect on October 25.

Owens could not be reached. GameStop did not respond to a request for comment from CNN Business.

GameStop, a video game and consumer electronics retailer, caught everyone’s attention earlier this year when amateur investors on Reddit targeted the “same stock,” causing its shares to skyrocket. At the time, GameStop was “shorted” by hedge funds – they were selling borrowed stocks in hopes the price would drop.but Reddit traders have fueled a “short squeeze,” which occurs when short sellers have to buy back the stocks they have borrowed because the stock price rises.
The company’s stock price rose approximately 2,700 from its intraday low on Jan.8 to its intraday high on Jan.28, followed by a decline of more than 86% between that day and early. February, according to a Securities and Exchange Commission report released in October.
The company has since hired several people for key leadership positions in an effort to transform in an e-commerce retailer. founder Ryan Cohen was confirmed as chairman of the company’s board in June, and later in the month the company announced the hiring of two former Amazon executives, Matt Furlong as CEO and Mike Recupero as CFO.
GameStop raids Amazon for another heavyweight executive
GameStop (GME) said he wanted moving from a struggling traditional video game retailer to an e-commerce powerhouse.

Owens is a former Amazon and Google executive. She could not be reached for comment.

The file said his responsibilities would be absorbed by other executives at the company, adding that Owens was entitled to severance packages, including six months of base salary and the remainder of his signature. premium.

GameStop closed at $ 183.51 per share on Friday. In January, it hit a high of $ 347 per share.

CNN’s Clare Duffy contributed to this report.

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