GameStop is increasingly focusing on e-commerce.
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GameStop ‘s executive shake-up continued this week with the announced departure of Chief Merchandising Officer Chris Homeister. Expect more hiring as the retailer continues to focus on e-commerce.
A person familiar with the matter told Barron’s that hiring talent from e-commerce and technology companies will continue to be a major focus for GameStop (ticker: GME) in 2021. The person also said that some of Homeister’s roles will be absorbed by newly hired COO Jenna Owens and CTO Matt Francis. Owens will be involved in supply-chain responsibilities, while Francis will tackle e-commerce.
The company has hired a wave of talent since Chewy co-founder Ryan Cohen joined the board in January. Aside from Owens and Francis, who both have Amazon experience, the company has hired other executives with experience at places like Chewy, Walmart, and QVC. Chief Financial Officer Jim Bell also left the company last month. GameStop is looking for a permanent successor with more of a technology background.
On Monday, the company announced another Amazon veteran, Elliott Wilke, for the role of chief growth officer, along with two former Chewy executives for brand development and merchandising roles.
The latest departure, which was announced in a filing with the Securities and Exchange Commission released on Thursday, reflects Cohen’s vision for the company with more of a focus on e-commerce than on bricks-and-mortar retailing, according to the person.
GameStop stock has moved in recent weeks in response to news of promising hires, but the retail investors who sent the shares soaring early in the year will have to wait until Monday to react. U.S. exchanges are closed for Good Friday.
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