GameStop Corp. (NYSE:GME) CEO Michael Mauler is leaving the position behind after only holding it for three months.
News that the GameStop CEO is stepping down from the role comes in an announcement from the company. In this statement, the company only says that the reason for his departure are personal ones. It doesn’t go into any more detail than that.
With Mauler resigning as GameStop CEO, the company is filling the void with Daniel DeMatteo. DeMatteo is one of the company’s co-founders and has served as it CEO in the past. This time around though, he will only be serving as the interim CEO of the game retailer.
DeMatteo had this to say upon taking over as the new interim GameStop CEO after Mauler stepped down.
“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. I’m happy to have Rob Lloyd, our CFO, and his 22 years of experience with GameStop alongside me as we work towards executing against our 2018 objectives. We continue to believe in GameStop and the many passionate associates that drive our business and are encouraged by the opportunities ahead of us.”
GME stock reacted badly to the quick switch of GameStop CEOs. The stock was down 1% as of noon Friday after starting the day off down 3%. The stock is also down 28% year-to-date.
As of this writing, William White did not hold a position in any of the aforementioned securities.
