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GameStop CFO Plans Retirement, New Exec Steps In

David W. Carlson, GameStop's 46-year-old founding CFO who made over $2.2 million last year, will be retiring from his position in 2010, as the major U.S.-based retailer names his replacement.
David W. Carlson, GameStop's 46-year-old founding CFO, will be retiring from the video game retailer next year after about 14 years, the company said Tuesday. Carlson's retirement is effective on March 1, 2010, GameStop said. Taking his place as new CFO will be Cathy Smith, who joined GameStop on Tuesday as EVP and CFO. Carlson will be helping Smith transition into the new position. Smith comes from outside of the games industry, most recently serving as EVP and CFO of Dallas' Centex Corporation, a home-building company. She was also CFO of tooling supplier Kennametal, Bell Systems, and Raytheon. GameStop, which raked in $8.8 billion in fiscal 2008, pays its CFOs well. Carlson earned $2.25 million in 2008, according to his Forbes executive profile. GameStop CEO Dan Dematteo said in a statement, "To leverage David’s experience, he will take an active part in the transition. David has been one of my closest partners at GameStop. We have shared the difficulties of a small start-up and the accomplishments associated with the building of a multi-billion dollar company. He is committed to a smooth transition of this important role."

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