Video game retailer GameStop announced earlier today that their newly appointed CEO, Michael Mauler, has officially stepped down from his position due to “personal reasons”. Mauler was named CEO back in February of this year, but after three brief months of service, his resignation is set to be effective immediately. Due to this recent development, Daniel DeMatteo, executive chairman of the board of directors for GameStop, and one of the co-founder’s of the company, has now taken the helm as interim CEO until the role is permanently filled.
DeMatteo is a longtime executive of the company whom was initially appointed as interim CEO of the company last year when J. Paul Raines was forced to resign due to health issues. A month after DeMatteo was made CEO, Paul Raines passed away in March of last year. DeMatteo said within a recent statement released by GameStop that:
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.
GameStop’s statement also didn’t speak much on Mauler’s work during his brief time as their CEO. As they search to fill the role, the future of the company is looking a bit unsure as the moment. They have seen some promise with the Nintendo Switch’s impressive first year as well as increased sales numbers of their collectibles. However, despite these high points, the retailer expects their sales for 2018 to remain flat or fall.