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GameStop stock falls after CFO announces departure

GameStop Corp. said late Tuesday that Chief Financial Officer Jim Bell will resign on March 26. No reason was given and the company, whose stock is often cited as one of the “meme stocks” that recently skyrocketed thanks to boosts from Reddit and other social-media posts, thanked Bell for “his significant contributions and leadership, including his efforts over the past year during the COVID-19 pandemic.” GameStop said it has started a search for a permanent replacement “with the capabilities and qualifications to help accelerate GameStop’s transformation.” The retailer said that if a permanent CFO is not found at the time of Bell’s departure, it plans to appoint Chief Accounting Officer Diana Jajeh to the role of interim CFO. Shares of GameStop fell 3% in the extended session after ending the regular session down 2.2%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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