- Frank Hamlin,
GameStop 's chief customer officer, is leaving the company on March 31. - The company confirmed Hamlin's resignation in a SEC filing Tuesday, hours before it revealed its earnings.
- GamesStop's CFO Jim Bell has also resigned.
GameStop's chief customer officer is resigning from the video-games retailer, per a Tuesday Securities and Exchange Commission filing released hours before the company announced its 2020 earnings.
The filing said that Frank Hamlin, who also serves as executive vice-president, would leave the company on March 31, following a transition period.
GameStop did not disclose the reasons for his departure, but said that he would be entitled to the payments, rights, and benefits associated with a "good reason" resignation.
Hamlin started as CCO in June 2019, and is responsible for initiatives around marketing, customer loyalty, strategy, and innovation.
GameStop and Hamlin entered into a Transition and Separation Agreement on Sunday, the company said.
In a separate SEC document also filed Tuesday, GameStop confirmed that Jim Bell, its chief financial officer, had also resigned, and would leave the company on March 26. It first announced the news on February 23.
"Bell's resignation was not because of any disagreement with the Company on any matter relating to the Company's operations, policies or practices, including accounting principles and practices," it said.
But sources close to the company told Insider's Ben Gilbert that Bell was forced to resign by the board as part of a push by Ryan Cohen, an activist investor and new board member, to reshape the ailing retailer.
Bell may leave the retailer with a package of around $30 million, Bloomberg reported.
After Bell and Hamlin exit the company, the only remaining member of the c-suite will be CEO George Sherman. The executive departures are part of a bigger "transformation" at the company being overseen by Cohen.
GameStop looking for a permanent CFO
In the SEC filing, GameStop said that it was looking for a permanent CFO, but that Diana Saadeh-Jajeh, the company's chief accounting officer, would serve as interim CFO if a permanent replacement isn't found by March 26.
GameStop hit the headlines in January after day traders banded together on Reddit to bump up the prices of several "meme" stocks, most notably GameStop but also AMC, BlackBerry, and Nokia, after noticing that hedge funds were betting against them.
This caused GameStop stock to jump massively - from below $5 late last year to a peak of more than $450 a share on January 28.
As a result, some of Wall Street's prominent hedge funds were forced to close their bearish bets against Gamestop, with hefty losses.