GameStop CEO Michael Mauler suddenly stepped down after just three months as head of the struggling retailer. According to the company, Mauler resigned due to personal reasons.
The company’s 70-year-old co-founder Daniel DeMatteo was appointed to lead the company until a new CEO is found.
DeMatteo released a statement, saying, “Given my tenure and familiarity with the company and our associates, it’s a natural step for me to assume this role and guide the business at this time while the board searches for a permanent CEO.”
Mauler’s resignation follows recent shake-ups on the company’s board when two executives were fired. Its shares fell on Friday after Mauler’s announcement. The company is still trying to adapt in a world where online games are quickly becoming the norm.
– Blair Halliday