GameStop CFO Resigns Just After Recent Firing of its CEO

The departure of Matthew Furlong as CEO and president has been followed by that of the CFO at GameStop.

The U.S. retailer revealed the news in a brief press release, stating that CFO Diana Saadeh-Jajeh will be leaving the company on August 11, 2023.

Saadeh-Jajeh has been with GameStop for almost four years, having joined in an interim capacity as CFO and CAO. She was first hired on an interim basis as the company’s chief accounting officer, with plans to promote her to the role of chief financial officer in July 2022.

After Saadeh-Jajeh’s departure, the corporation will name Daniel Moore as the chief accounting officer and interim chief financial officer.

Moore is now a vice president and corporate global controller and tax at Gamestop, a position he took in July 2021.

Gamestop Undergoing a Leadership Change

Saadeh-Jajeh’s resignation was not due to a “disagreement” with the company or “any matter relating to the company’s operations, policies or practices, including accounting principles and practices,” GameStop stated in an SEC filing confirming the changes.

Despite these guarantees, GameStop has undergone some notable changes in its the top management in a short period of time.

Former CEO and president Matthew Furlong was fired “without cause” in June, and board chairman Ryan Cohen was promoted to the position of executive chairman, as previously mentioned.

The business warned investors in an SEC filing that “leadership transitions can be inherently difficult to manage,” adding that “failure to timely or successfully implement transitions may cause disruption within the Company, including execution of our transformational plans.“

Gamestop said that the change might affect the company’s bottom line and strategic objectives, such as its “ability to retain and hire other key members of management.“