October 29 (Reuters) – GameStop Corp (GME.N), the company whose stock became a sensation among day traders this year, said on Friday that Jenna Owens agreed to leave, just seven months after joining the video game retailer as its top operator. officer.
It’s the first major director resignation at GameStop since the company hired a new CEO, Matt Furlong, in June.
Owens, who was top executive at Amazon.com Inc (AMZN.O) and Alphabet Inc’s (GOOGL.O) Google, joined GameStop in March. She was one of the technology veterans recruited by Ryan Cohen, co-founder and former CEO of online pet food retailer Chewy Inc (CHWY.N), when he laid the groundwork for transforming the dying brick-and-mortar retailer into an e-commerce powerhouse .
GameStop did not provide a reason for Owens’ departure, which takes effect immediately. The company said in a legislative filing that it and Owens had reached a “separation agreement,” which is typically negotiated when companies and their executives do not face each other.
GameStop also used separation agreements as they parted ways with its CFO Jim Bell and CEO George Sherman earlier this year. They were replaced by Furlong as CEO and Mike Recupero as CFO.
Owens will be entitled to a severance pay, the application states. Her duties will be handled by other senior GameStop managers.
The company declined to comment beyond the filing. Owens could not be immediately reached for comment.
Cohen and two other former Chewy executives joined the GameStop board in January, just before retail investors stepped into the company’s stock and drove it up more than 2,500%. The shares have given up some of their gains and GameStop is now valued at around $ 14 billion.
Since becoming chairman in June, Cohen has been pushing aggressively to improve the customer experience, but has not offered a detailed plan for how GameStop will achieve its digital transformation. Read more .
The Grapevine, Texas-based company’s business selling video games for consoles is facing competition from streaming services such as those from Apple Inc (AAPL.O), which allow users to play video games on their TVs without a console.
Cohen recruited a number of executives from Amazon, including Furlong and Elliott Wilkie, who took over as growth manager in March.
Public records and archives show that the company has hired dozens of new executives with supply chain and technology backgrounds from companies, including Chewy and e-commerce company Zulily.
Cohen and Furlong have also released several senior executives in recent months who have not fit their system, the two sources said.
(This story has been re-archived to correct typing errors in lead)
Reporting by Svea Herbst-Bayliss in Boston Editing by Greg Roumeliotis
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