GameStop Exec Resigns Amid Share Price Controversy
The outgoing executive, Frank Hamlin, is leaving the company effective March 31.
Video game retailer GameStop has announced a major change for its executive leadership amid the company's volatile stock price situation that remains ongoing.
GameStop's Chief Customer Officer, Frank Hamlin, is resigning from the company effective March 31. This is not a dramatic breakup, and Hamlin will still receive payments, rights, and benefits that he is afforded under the "Good Reason" resignation clause.
Before he leaves, Hamlin will remain Chief Customer Officer, or he will become a Senior Adviser, to help with the transition to a new person to take over for him in the role.
GameStop announced this change in a regulatory filing on Tuesday.
GameStop's share price stands at around $200. For comparison, it was trading at under $5 per share a year ago, so anyone who held shares for the long term is now potentially very rich.
The drama around GameStop's share price has led to multiple Hollywood projects coming about, including a new documentary narrated by none other than Jordan Belfort.
GameStop will report its fiscal Q4 and full year 2020 earnings today, March 23, and it's notable because it's the first earnings release since the stock price drama kicked off.
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