Video game retailer GameStop announced this morning via press release that the company’s current CEO Michael K. Mauler has stepped down.
Mauler cited personal reasons as his purpose for leaving from his CEO role. His departure comes as quite a surprise considering that he had only just started as GameStop’s CEO in February of this year. Mauler’s decision to step down is effective immediately and ends his tenure of over sixteen years with the company.
Daniel A. DeMatteo will serve as the company’s interim Chief Executive Officer while the board of directors at GameStop continues to search for a permanent CEO. DeMatteo spoke a bit about his new temporary appointment while also discussing the company’s CFO, Rob Lloyd, who will work alongside him at this time.
“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.”
There’s no doubt that Mauler’s resignation is quite abrupt but the transition to a new permanent CEO shouldn’t be too troublesome for the company. DeMatteo has previously served as the CEO of GameStop in the past and has filled other various executive roles for over twenty years, so he has plenty of experience to guide them through this adjustment.