GameStop Shares Drop after CFO Decides to Step down

GameStop shares dropped 2.24% on Tuesday after CFO Jim Bell decided to resign on March 26.

The American video game retailer thanked Bell for his significant contributions and leadership, including his efforts during the COVID pandemic; giving no reason for the resignation.

The retailer began searching for a permanent alternative 'with capabilities and qualifications to help accelerate the GameStop transformation'.

"If a permanent CFO is not found at the time of Bell's departure, he plans to appoint Chief Accounting Officer Diana Gagh to the position," the company emphasized.

GameStop's shares are often referred to as one of the value stocks that have risen recently due to boosts from Reddit and other social media platforms.

Meantime, GameStop shares were down 3% in the extended session after ending the regular session 2.2% lower.