Why Camping World Stock Slumped by 13% in December

Camping World (NYSE: CWH) was a stock fit only for a Scrooge in the holiday month. December saw the recreational vehicle (RV) retailer's share price erode by 13%. That occurred largely because of a major change in its C-suite and its board of directors.

In with the new

On Dec. 8, Camping World announced that the individual who most personified its brand, CEO, and board chairman Marcus Lemonis, was stepping down from both positions. In what some investors likely considered to be short notice, those twin resignations were effective Jan. 1 of this year.

Image source: Getty Images.

Two people were named as Lemonis's successors. The company tapped Matthew Wagner, its president, to be the new CEO. He'll maintain his president title. Filling the board chairman role was to be Brent Moody.

Camping World clearly believes in promoting from within, as both Wagner and Moody are long-serving executives at the company. The former started there in 2007 as an inventory analyst, and moved through the ranks into positions such as COO. Prior to that, he was an intern at Discover Financial Services, which is now owned by Capital One Financial.

As for Moody, he's been in the employ of Camping World since the start of 2010, when he joined the company as executive vice president, and chief administrative and legal officer. In early 2015 he was made chief operating and legal officer, roles he still performs to this day. In September 2018 he was also tapped to be a Camping World president.

I would say that Lemonis is something of a rock star CEO. He's not only well known among stock investors for his considerable -- and frequently successful -- efforts lifting Camping World to prominence, he's known to millions of TV viewers.

For eight seasons, he was the host of the business reality show The Profit, and last July The Fixer deubted, a series with a similar concept starring the now ex-Camping World leader.

Small-screen success

TV stardom confers high status to individuals, and that holds doubly true for high-ranking business executives. It feels to me that Camping World investors felt as if Lemonis's departure was a deep and difficult loss. His presence on TV, after all, brought in plenty of free publicity for the company, and made it more prominent than the niche retailer might otherwise have been.

So far, the share price has recovered rather nicely in 2026. The transition was smooth, and from what we can tell, both Wagner and Moody are easing into their new roles. Given that, the December sell-off looks overblown, and Camping World bears might consider reassessing their takes on the stock.

Eric Volkman has no position in any of the stocks mentioned. The Motley Fool recommends Camping World and Capital One Financial. The Motley Fool has a disclosure policy.