GameStop Snags a Top Executive From Amazon

GameStop Corp. (NYSE: GME) has been the most popular “meme” stock this year and crowded trades have forced shares to the moon. However, the stock is not the only attractive feature about this video game retailer. The company has drawn high level executives as GameStop is looking to remake itself. This time GameStop snagged an executive from the e-commerce Death Star that is Amazon.

On Tuesday, the company announced that it appointed Elliott Wilke to take on the role of Chief Growth Officer on April 5.

Wilke has spent nearly two decades in branding, consumer goods and e-commerce, and he brings this experience to GameStop. He joins from Amazon, where he spent the past seven years holding a variety of senior roles across segments such as Amazon Fresh, Prime Pantry and Worldwide Private Brands.

At GameStop, Mr. Wilke will oversee growth strategies and marketing, with a focus on increasing customer loyalty and growing the reach of Power Up Rewards and Game Informer.

Separately, GameStop had a couple other major executive hires recently:

Andrea Wolfe, Vice President of Brand Development – Ms. Wolfe, who previously served as Chewy’s Vice President of Marketing, started March 29, 2021. She has held executive and director-level marketing roles at companies such as Outdoorsy, Spreetrail and Whole Foods. In her new role, Ms. Wolfe will help drive branding, content, social media strategy and other digital initiatives.

Tom Petersen, Vice President of Merchandising – Mr. Petersen, who previously served as Chewy’s Vice President of Merchandising, started March 29, 2021. He has also held senior marketing and merchandising roles at specialty retailers such as Artenza and Corro. In his new role, Mr. Petersen will help drive vendor relations, product management and related merchandising initiatives.

Excluding Tuesday’s move, GameStop has outperformed the broad markets with its stock up about 862% year to date. In the past 52 weeks, the stock is up closer to 4196%.

GameStop stock was last seen up about 10% at $200.37, with a 52-week range of $2.57 to $483.00. The consensus analyst price target is $40.64.

Source: Read Full Article