Jenna Owens opted to depart GameStop Corp, the video game retailer whose stock became a sensation with day traders this year, just seven months after joining the firm as its chief operational officer.
It’s the first major management resignation at GameStop since Matt Furlong, the company’s new CEO, was hired in June.
Owens joined GameStop in March after serving as a top executive at Amazon.com Inc and Alphabet Inc’s Google. She was one of the IT veterans enlisted by Ryan Cohen, the co-founder and former CEO of online pet food retailer Chewy Inc, as he set the framework for turning the dormant brick-and-mortar shop into an e-commerce behemoth.
Owens’ departure, which is effective immediately, was not given a reason by GameStop. In a regulatory statement, the business claimed it and Owens had struck a “separation agreement,” which is routinely made when companies and their CEOs disagree.
Separation agreements were also employed by GameStop when company parted ways with its chief financial officer Jim Bell and CEO George Sherman earlier this year. Furlong took over as CEO and Mike Recupero took over as CFO.
According to the application, Owens will be entitled to a severance payout. Other senior GameStop managers will take over her responsibilities.
The company declined to comment beyond the filing. Owens could not immediately be reached for comment.
In January, Cohen and two other former Chewy executives joined the GameStop board of directors, just as retail investors flocked to the company’s stock, driving it up more than 2,500%. GameStop’s stock has given up some of its gains, and the company is currently valued at around $14 billion.
Since becoming chairman in June, Cohen has pushed hard to improve the customer experience, but he has not provided a specific plan for GameStop’s digital transition.
The Grapevine, Texas-based company’s business of selling video games for consoles is up against streaming services like Apple Inc’s, which allow consumers to play video games on their televisions without requiring a console.
Furlong and Elliott Wilkie, who joined as chief growth officer in March, were among the Amazon executives recruited by Cohen.
According to public documents and filings, the company has hired scores of new executives with supply chain and technological experience from companies such as Chewy and Zulily.
According to the two individuals, Cohen and Furlong have recently let rid of several top personnel who did not fit their system.
