GameStop Names Former Centex Financial Chief Smith As CFO

   DOW JONES NEWSWIRES 
 

GameStop Corp. (GME) named Catherine R. Smith, the former financial chief of home builder Centex Corp., as its new chief financial officer, replacing David W. Carlson, who plans to retire in March.

Carlson helped guide the videogame and console retailer through multiple mergers and acquisitions and has been with GameStop since its spinoff from Barnes & Noble Inc. (BKS) about 13 years ago. He will assist the company during the transition period.

Meanwhile, Centex was taken over last week by Pulte Homes Inc. (PHM) in a deal worth $1.4 billion in stock that creates the largest home-building company in the U.S.

"David has been one of my closest partners at GameStop," Chief Executive Daniel D. DeMatteo said. "We have shared the difficulties of a small start-up and the accomplishments associated with the building of a multi-billion-dollar company."

Last week, GameStop said its fiscal second-quarter earnings fell 32% amid slowing sales of video consoles, tough comparisons owing to prior-year releases of hit videogames, and higher expenses. The retailer also cut its 2009 earnings forecast and projected third-quarter earnings below analysts' expectations.

Shares rose 4 cents to $22.60 in after-hours trading and are up 4.2% so far this year through Monday's close.

-By Lauren Pollock, Dow Jones Newswires; 212-416-2356; [e-mail]