GameStop fires CFO, shares fall


 GameStop Corp (GME.N) announced on Thursday that it had terminated the hiring of Chief Financial Officer Michael Recupero. The news sent shares of the video game retailer down 8 percent in after-hours trading. Axios, which first reported the exit, also cited a memo saying it was laying off an undisclosed number of employees.


Shares closed up about 15% in regular trading after the company announced a 4-for-1 stock split late Wednesday. Recupero, who previously served as chief financial officer of Amazon's North American consumer business (AMZN.O), will be succeeded by chief accounting officer Diana Saadeh-Jajeh.


The company also launched a digital asset wallet in May for storing, sending, receiving and using cryptocurrencies and non-fungible tokens. GameStop is at the heart of a stock-trading phenomenon in 2021, as retail investors banded together on social media forums to punish hedge funds that shorted stocks.


The company also launched a digital asset wallet in May for storing, sending, receiving and using cryptocurrencies and non-fungible tokens. Along with AMC Entertainment Holdings Inc (AMC.N), GameStop is at the heart of a stock-trading phenomenon in 2021.


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