Form 8K
On July 7, 2022, GameStop Corp. (the “Company”) terminated the employment of Michael Recupero as its Chief Financial Officer effective immediately. Subject to his execution of a release, Mr. Recupero will be entitled to certain remuneration, rights and benefits associated with a termination without Cause (as such term is defined in Mr. Recupero’s offer letter from the Company) pursuant to his offer letter. Mr. Recupero is not entitled to any severance payments beyond what is set forth in his offer letter from the Company.
Layoffs, job cuts, CFO out - relax
Do you know what happens when a company transitions business models? Roles become redundant.
GameStop has hired more than 600 staff this year. This is not a sign of a failing business, it is a sign of a changing business with new priorities. Don't let this get positioned as the end of GameStop, it's merely a change of focus. A change that we have all bought into.
Oh and the CFO leaving? That shit happens all the time. It's business. Relax and trust in RC.
Recupero, who joined the company about a year ago, was “fired because he was not the right culture fit” and was “too hands off,” a person familiar with the matter told CNBC. He was pushed out by GameStop chairman Ryan Cohen, the person said.