Gamestop claimed that Bell’s departure was not due to operational differences with the company, or differences in accounting principles or practices. People familiar with the matter said Bell’s departure had nothing to do with the incident and that his departure was purely an internal matter of the company.
According to the person familiar with the matter, Gamestop is preparing to transform into a new business model of “technology centric” sales. Bell and the company have differences on this point, and Gamestop may think bell is no longer the most suitable CFO.
Bell will leave the company on March 26 after working for gap, coldwater Creek and restaurant chain P. F. Chang’s China bistro.
Gamestop shares fell 5% in after hours trading to $42.75 after the news. But Gamestop’s share price has risen 140 this year, reaching $482.95 at one point. Shareholders hope Gamestop doesn’t just focus on shopping malls, it should focus on digital sales.
Gamestop said the company had started looking for a formal CFO and would appoint Diana Jajeh, its chief accounting officer, as an interim CFO if not before bell left.