GameStop Corp. (NYSE:GME) said Thursday that Chief Financial Officer Diana Saadeh-Jajeh is leaving her role effective Aug. 11 at the company, a retail trader favorite.
“A memo reported by CNBC said that after making more than 600 corporate hires in 2021 and the first half of 2022, GameStop plans to continue to “right-size” by reducing its headcount across several corporate departments to “help us keep things simple and operate nimbly with the right talent in place,”” said The Business Journal.
On June 1, Grapevine, Texas-based GameStop announced first quarter net sales of $1.378 billion compared to $1.277 billion in the prior year.
Saadeh-Jajeh’s departure comes after serving as CFO since July 2022. Prior to her role as CFO, she held the position of senior vice president and chief accounting officer at GameStop.
GameStop said in a filing that Saadeh-Jajeh’s departure is not due to any disagreements with the company regarding its operations, policies or practices, including accounting matters.
According to her LinkedIn profile, Diana Saadeh-Jajeh’s experience spans companies with revenues from $30 million to $20 billion in industries ranging from construction, consumer products, software/technology and retail, to telecom, financial services and network operations.
GameStop said it is appointing Daniel Moore as its principal accounting officer and interim principal financial officer, effective from the same date.
According to Wikipedia, GameStop Corp. is an American video game, consumer electronics, and gaming merchandise retailer headquartered in Grapevine.. It is the largest video game retailer worldwide.
“As of 28 January 2023, the company operates 4,413 stores including 2,949 in the United States, 216 in Canada, 419 in Australia and 829 in Europe under the GameStop, EB Games, EB Games Australia, Micromania-Zing, ThinkGeek and Zing Pop Culture brands,” said Wikipedia.
“Shares of Gamestop closed 2.1% lower on Friday, but remain 19% higher year-to-date. The gaming retailer is trading over 80% below its all-time highs reached during the meme stock bubble in January 2021,” said Benzinga.
Produced in association with Benzinga
Edited by Priscilla Jepchumba and Judy J. Rotich