GameStop announced today that Executive Chairman Daniel DeMatteo will be taking the role of interim CEO as J. Paul Raines has sadly had to step down from the position due to a "reoccurence of his previously disclosed medical issue." Raines was reportedly diagnosed with a brain tumor in 2014. He underwent surgery at the time.
J. Paul Raines had served as GameStop's CEO since 2010. He helped spearhead a number of new initiatives by the company including diversifying into digital distribution of games. He also helped expand the company through acquisitions of ThinkGeek and many AT&T wireless locations.
Daniel DeMatteo, a co-founder of GameStop, has previously served as CEO in the past and has performed of number of executive roles since 1996. "We continue to send our best wishes and strong support to Paul and his family," DeMatteo said. "The Board of Directors has tremendous confidence in GameStop's executives and the management team's ability to effectively run the business with the Board's support."
Shacknews sends our best wishes to the Raines family.