GameStop CEO Steps Down

Board-Room

Michael Mauler is out as CEO of GameStop after just three months on the job, the video game retailer announced Friday. GameStop cited "personal reasons" for his departure and didn't elaborate on what those reasons might be.

GameStop co-founder Daniel A. DeMatteo has been appointed interim CEO, " the firm claimed. Mauler had just been appointed to the position in February after the late J. Paul Raines stepped down past year due to health reasons.

DeMatteo in a prepared statement said that given his tenure and his familiarity with the business and its associates, it is only natural for him to fill this role and guide the company during this period while the board searches for a new 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. He also served on its Board of Directors.

More news: Calls for restraint after Israeli raids on 'Iranians' in Syria

It's a little weird that it's happened so abruptly, but there's been an interim CEO appointed in his place. It was then in February when Raines made it clear that he would be unable to return at all, that DeMatteo stepped down and Mauler took his place.

The company, which is the biggest independent video games retailer, has been struggling in its attempt in adding to a world in which software is delivered often time online.

Shares of GameStop are inactive in the premarket session.

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