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GameStop CFO to step down after Reddit driven stock rally

NEW YORK (REUTERS) - GameStop chief financial officer Jim Bell will step down next month, the video game retailer said on Tuesday (Feb 23), as it focuses on shifting into technology-driven sales in the wake of headline-grabbing big betting in its stock. GameStop said Mr Bell's resignation was not due to any disagreement with the company relating to its operations, including accounting principles and practices. However, a source said that while Mr Bell's exit was unrelated to the recent wild swings in GameStop's stock spurred by retail traders on the Reddit social media site, his departure was initiated by the company. The source, a person familiar with the firm's thinking, said GameStop had become dissatisfied with Mr Bell as it works to transform into a technology-oriented business and was not confident he would be the right CFO moving forward. Mr Bell, who will leave the company on March 26, previously worked at brick-and-mortar retailers Gap and Coldwater Creek and restaurant chain P. F. Chang's China Bistro, according to his LinkedIn profile. He did not respond to requests for comment. Shares of GameStop fell about 5 per cent to US$42.75 in extended trading after the announceme...