Alongside the release of its latest earnings report, GameStop has fired its president and chief executive officer, Matthew Furlong. Furlong took the reins of CEO almost two years ago to the day.

No explanation for the move was provided, but it is effective immediately, as of the Board's decision on June 5. The news follows the firing of CFO Michael Recupero last year.

Because Furlong was terminated "without cause," he'll be entitled to a number of benefits as outlined back in June 2021. That includes six months of his base salary (he earned $200,000 annually, among many other bonuses). He also resigned as a member of GameStop's Board of Directors, which has now shrunk to five seats. His "resignation did not result from any disagreement with the Company on any matter relating to the Company's operations, policies or practices," the company said in its statement.