GameStop’s CFO Jim Bell due to exit the company with a package worth about $30 million

  • Date: 24-Feb-2021
  • Source: Business Insider
  • Sector:Economy
  • Country:Middle East
  • Who else needs to know?

GameStop’s CFO Jim Bell due to exit the company with a package worth about $30 million

GameStop's CFO, Jim Bell, may take home about $30 million as he leaves the retailer, Bloomberg reported. 

Bell's contract included severance of $2.8 million, along with a departure award of restricted shares worth about $13 million, according to Bloomberg. Much of the rest of the package would be in equity grants tied to company performance over the next few years, the report said. 

The company on Tuesday announced Bell's departure, saying in a press release he would resign on March 26. Diana Jajeh, senior vice president and chief accounting officer, will serve as interim chief financial officer while the company searches for a permanent replacement.

The company said it's seeking a chief financial officer with "the capabilities and qualifications to help accelerate GameStop's transformation."

Bell was appointed to the chief financial position at GameStop in July 2019, less than two years ago. He had previously been CFO and interim CEO at Wok Holdings, parent company of P.F. Chang's, according to his company profile. 

In 2020, activist investor Ryan Cohen bought a stake in GameStop, and took a seat on the company's board. Cohen, a co-founder of internet retailer Chewy, also installed two of his former Chewy lieutenants on the GameStop board. 

In November 2020, Cohen wrote