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GameStop Tumbles on CFO’s Firing, Reports of Job Cuts

  • Chairman Cohen has been pushing into crypto to boost growth
  • Diana Jajeh, current chief accounting officer, becomes CFO
GameStop Corp. Stores as Brokerages Ease Trading Curbs
Photographer: Alex Kraus/Bloomberg
Updated on

GameStop Corp. shares tumbled Friday after the company fired Chief Financial Officer Mike Recupero and said it’s cutting jobs in a bid to turn around a business buffeted by shifting gaming demands and market malaise. The stock was down 6.9% as the market opened. 

Diana Jajeh, the current chief accounting officer, will replace Recupero, effective immediately, GameStop said Thursday in a securities filing. Recupero isn’t entitled to any severance payments beyond what is outlined in his offer letter from the company, according to the filing.