August 24, 2009 / 9:25 PM / 10 years ago

GameStop says CFO will retire in March

NEW YORK (Reuters) - GameStop Corp (GME.N), the video game retailer, on Monday said co-founder and chief financial officer David Carlson planned to retire early next year.

Carlson, who expects to retire March 1, 2010, will be succeeded by Catherine Smith, who previously served as the chief financial officer of Centex Corp.

Carlson has been with GameStop since it began in 1996, helping found it along with Chief Executive Officer Dan DeMatteo and others. Since then, the chain has grown to become the largest U.S. video game retailer, with more than 6,000 locations in 17 states.

Carlson will help with the transition over the coming months, then is retiring to travel and spend time with his family, the company said.

His departure comes during a difficult stretch in the video game industry, which has been hurt by the pullback in consumer spending on entertainment.

The company reported weaker-than-expected earnings last week and cut its full-year forecast, citing concerns about the drop in spending and the delay of some key video game titles.

Shares of GameStop fell 2.46 percent to $22.56 on the New York Stock Exchange.

Reporting by Paul Thomasch; editing by Carol Bishopric

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