RH stock price drops as Senior Vice President of Real Estate resigns to join Crate & Barrel

Investing.com – After another key executive at luxury home goods retailer RH resigned, the company’s stock fell 1.3% in pre-market trading, continuing the recent trend of executive departures.

RH Senior Vice President of Real Estate Steve Rouman has resigned to join Crate & Barrel as Chief Real Estate and Development Officer. This is the latest example of executive departures following the recent resignations of Chief Showroom Officer Stefan Duban and Western Region Hotel Business Vice President Ryan Wagner.

Rouman was responsible for all of the company’s real estate assets, including strategy, site selection, and transaction and leasing negotiations. He had been in this role for four years. This is actually his second stint at this luxury retailer, as he previously held the same position from 2017 to 2020.

The executive has extensive experience in retail real estate, having held senior roles at major brands such as Amazon, Apple, Levi Strauss & Co., and GAP. His career began in real estate, with positions at JMB/Urban Retail Properties and Westfield Corporation.

Jefferies analysts expressed concern about the impact of these departures.

“In key functional areas, the successive departure of experienced leaders highlights underlying challenges beneath the surface of the business. We believe the recent rapid turnover of executives could impact future growth, which is a barrier to our constructive outlook on the stock’s future upside.”

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