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GameStop loses second senior exec as shakeup deepens

GameStop loses second senior exec as shakeup deepens

FILE PHOTO: The GameStop store sign is seen at its shop in Westminster, Colorado January 14, 2014. REUTERS/Rick Wilking

REUTERS: GameStop Corp said on Tuesday its chief customer officer Frank Hamlin will resign from the company by March 31, pointing to a deepening of changes driven by its new biggest shareholder, Chewy.com co-founder Ryan Cohen.

This is the second executive departure at GameStop since it tapped Cohen to spearhead a transition to e-commerce. Chief Financial Officer Jim Bell is stepping down this month.

The company, which is expected to report fourth quarter results after the market close on Tuesday, garnered eyeballs after a social media frenzy in January, motivated in part by anger at shortsellers, triggered a rally in its shares.

Hamlin will become entitled to the payments, rights and benefits associated with a 'Good Reason' resignation under his employment agreement with GameStop, it said in a regulatory filing on Tuesday.

(Reporting by Eva Mathews in Bengaluru; Editing by Anil D'Silva and Christian Plumb)

Source: Reuters

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