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25 Feb 2010
Catherine Smith, chief financial officer of GameStop, has resigned after six months to take up the same role at Wal-Mart's international division.
The Grapevine-based video game retailer announced the departure yesterday.
Wal-Mart is one of GameStop's main competitors in the video games industry. Arvind Bhatia, analyst at Sterne Agee and Leach, Dallas, said the move was abrupt due to Gamestop's unhappiness about the loss of its CFO to a rival.
GameStop's holiday sales were weaker than expected, and Bhatia said Smith might have had some disagreements with leaders about the company's direction.
Its senior vice president and chief accounting officer Robert Lloyd has been named interim CFO, with immediate effect, announced The Dallas Morning News.
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Briefings
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