GameStop COO Jenna Owens Exits After a Short 7Month Stint

Gamestop, a company whose stakes in Day Traders have gone berserk this year, said Friday that Jenna Owens agreed to join the video game retailer just seven months after joining as chief operating officer.

This is Gamestop’s first major CEO since the company hired a new CEO, Matt Furlong, in June.

Owens, a senior executive at Amazon and Google at Alphabet, joined Gamestop in March. He was one of the tech giants hired by Ryan Cohen, co-founder and former CEO of online pet food retailer Chewy, when he laid the groundwork for turning the Moriband Brick-and-Mortar retailer into an e-commerce powerhouse.

Gamestop gave Owens no reason to leave, which took effect immediately. The company says in regulatory documentation that it and Owens have a “separation agreement” that is usually negotiated when the company and their executives are not seeing each other.

Gamestop also closed split deals with CFO Jim Bell and CEO George Sherman earlier this year. He has been replaced by Furlong as CEO and Mike Recupero as CFO.

Owens will be entitled to surgical equipment, the document said. Your task will be taken over by another senior gametop manager.

The company declined to comment beyond the filing. Owens was not immediately available for comment.

Cohen and two other former Chewy executives joined GameStop’s board of directors in January just before private investors amassed more than 2,500 percent of the company’s shares. Stocks have cut some of their profits and Gamestop is now worth around $14 billion (roughly Rs.1,04,913).

Since his appointment as chairman in June, Cohen has made aggressive efforts to improve the customer experience but has yet to make detailed plans for how Gamestop will achieve its digital transformation.

Grapevine, a Texas-based company that sells video game consoles, is competing with streaming services like Apple, which allow consumers to play video games on their TVs when they don’t need the console.

Cohen hired several Amazon executives, including Furlong and Elliott Wilkie, who joined as chief growth officer in March.

Public records and documents show that the company has recruited dozens of new leaders in supply chain and technology from companies such as Chewy and e-commerce firm Zulily.

Cohen and Furlong have fired several senior officials who did not fit into their system in recent months, the two sources said.