GameStop CFO joins Wal-Mart
CFO leaves after only six months to join gaming rival
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
Dallas Morning News.