Shares of RH (NYSE:RH) moved lower in premarket trading, falling 1.3%, after the luxury home furnishings group announced the departure of another senior executive, extending a recent run of leadership changes.
Steve Rouman, the company’s Senior Vice President of Real Estate, has stepped down to take on the role of Chief Real Estate & Development Officer at Crate & Barrel. His exit follows other recent senior departures at RH, including Chief Gallery Officer Stefan Duban and Western Region Vice President of Hospitality Ryan Wagner.
Rouman had overseen real estate strategy, site selection, and lease and deal negotiations across RH’s property portfolio. He spent four years in the role during his most recent tenure, marking his second period at the company after previously holding the same position from 2017 to 2020.
He brings deep experience in retail real estate, having held senior roles at Amazon, Apple, Levi Strauss & Co., and Gap Inc., and began his career working on the landlord side with JMB/Urban Retail Properties and Westfield Corporation.
Jefferies analysts flagged the string of departures as a potential concern.
“Overlapping exits of leaders with meaningful tenure in key functions highlight business challenges ’under the hood’. We believe the velocity of recent turnover could impact growth ahead, presenting an obstacle to us getting constructive on the stock’s upward trajectory ahead.”