Please ensure Javascript is enabled for purposes of website accessibility

GameStop Chief Merchandising Officer Stepping Down

By Eric Volkman - Apr 4, 2021 at 7:04AM

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The move comes amid a flurry of changes in the retailer's C-suite.

GameStop (GME -3.56%), a turbulent company that has seen numerous top executive comings and goings of late, reported another one on Friday. It disclosed in a regulatory filing that Chief Merchandising Officer Chris Homeister has given notice of his resignation. This will likely be effective at some point this quarter (Q2); the company did not provide more specific timing.

It did say that it has begun discussions with Homeister regarding the transfer of his responsibilities to other GameStop executives.

Hand reaching for a video game controller on a table.

Image source: Getty Images.

The company is losing a veteran retail industry executive. Prior to the beginning of Homeister's tenure at GameStop in June 2019, he served in a range of top-level positions throughout the sector. He was CEO and president of The Tile Shop, a specialty retailer based in Minnesota. He also served in several capacities at Best Buy, including senior vice president of strategic planning, and general manager -- merchandising.

In its filing, GameStop did not provide a reason for Homeister's resignation. 

The company's C-suite has witnessed numerous changes since it brought in Chewy co-founder Ryan Cohen in early March. Cohen was named as chairman of a special board of directors committee tasked with reshaping the retailer's e-commerce strategy.

Since Cohen's arrival, GameStop has hired onetime (AMZN 0.25%) executive Elliott Wilke to be its chief growth officer. Several days prior to that, GameStop announced that it had tapped another Amazon veteran, Jenna Owens, to be its new chief operating officer (replacing the outgoing Jim Bell).

GameStop is an extremely high-profile company these days, thanks to the short squeeze encouraged by members of the Reddit group WallStreetBets earlier this year. As a fairly traditional brick-and-mortar retailer, it has been hobbled by the twin bogeymen of its industry, the retail apocalypse and the coronavirus pandemic. 

Invest Smarter with The Motley Fool

Join Over 1 Million Premium Members Receiving…

  • New Stock Picks Each Month
  • Detailed Analysis of Companies
  • Model Portfolios
  • Live Streaming During Market Hours
  • And Much More
Get Started Now

Stocks Mentioned

GameStop Corp. Stock Quote
GameStop Corp.
$95.66 (-3.56%) $-3.53, Inc. Stock Quote, Inc.
$2,151.82 (0.25%) $5.44
Best Buy Co., Inc. Stock Quote
Best Buy Co., Inc.
$72.36 (-1.31%) $0.96
Chewy, Inc. Stock Quote
Chewy, Inc.
$24.47 (-2.00%) $0.50

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

Related Articles

Motley Fool Returns

Motley Fool Stock Advisor

Market-beating stocks from our award-winning service.

Stock Advisor Returns
S&P 500 Returns

Calculated by average return of all stock recommendations since inception of the Stock Advisor service in February of 2002. Returns as of 05/22/2022.

Discounted offers are only available to new members. Stock Advisor list price is $199 per year.

Premium Investing Services

Invest better with The Motley Fool. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services.