GameStop CFO Was Forced Out as Activist Investor Pushes New Strategy

A potential turnaround at GameStop isn’t something Wall Street is betting on yet. The company, particularly Mr. Cohen, needs to develop a strategy for growth and use it to re-engage institutional investors, many of whom have shorted the stock, said Michael Pachter, a research analyst at financial-services firm Wedbush Securities Inc. “That is a real challenge,” Mr. Pachter said.

Industry analysts see many lucrative revenue options for GameStop, including leveraging its brand recognition and reach within the gaming community. GameStop should focus on its community and encourage people to come into its stores, said Ray Wang, an analyst at advisory firm Constellation Research Inc. “To do the whole Blockbuster-to-Netflix thing, you have to bring that community back to GameStop, from where they’ve gone to other social-media sites,” Mr. Wang said.

GameStop said it has launched its search for a new CFO, and plans to appoint its Chief Accounting Officer Diana Jajeh as interim finance head if it hasn’t found a replacement when Mr. Bell leaves. The company is seeking a CFO with a background in e-commerce or technology who could develop strategies in areas such as capital allocation and financing, the people familiar with the matter said.

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CFO: Lets issue more stock and raise funds to support .... Ryan: NO!!!! To The MooN!!!

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