Let’s check in on GameStop. It has been a while since the CEO resigned, and … Ah.
GameStop has had no CEO since Matthew Furlong was fired almost two months ago. Now, the embattled brick-and-mortar video game retailer has lost its Chief Financial Officer.
Unlike Furlong’s departure, Saadeh-Jajeh’s appears to be voluntary. A reason for her departure, however, was not given.
The vacation of the CFO position means that GameStop’s VP, Daniel Moore, will be moving into the role in the interim. Considering the company is still without a CEO, who knows when and if these positions will be filled or just assimilated into the duties of other people full-time?
Like Saadeh-Jajeh, Moore has not been with GameStop for a lengthy period. He, too, started with the company less than four years ago.
Previously, Saadeh-Jajeh had been GameStop’s Chief Accounting Officer and even the interim FCO during the second quarter of 2021. Before all that, she spent 18 years with VISA, rounding out her career there as the Vice President in 2015. She had bounced around between a few companies before coming to GameStop.
GameStop’s stock closed at $21.93 on July 28th. That’s a far cry from the $81.25 high it experienced in 2021. Even after the meme-inspired price increase, GME maintained a $40-$50 value throughout 2021, then gradually declined into $20 territory throughout 2022.
The physical stores have been seemingly aimless regarding who they’re trying to appeal to. What is the point of visiting a GameStop unless you’re trading in games or buying pre-owned ones?
Over the past few years, we’ve seen that brick-and-mortar locations have had an identity problem. They changed focus from games to Funko Pops and pop culture collectibles. Many of those items end up in the clearance bins.[Source: GameIndustry.biz] [Source: LinkedIn] [Source: LinkedIn]
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