Gamestop CEO Resigns After Only Three Months On The Job, Shares Drop

GameStop's co-founder has stepped in to fill the role in the interim.

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GameStop can't keep a good CEO apparently, because the one the company just appointed has now resigned. Now-former CEO Michael Mauler resigned Wednesday after staying on the job for a lowly three months. There was no explanation given beyond "personal reasons," and as a result Mauler isn't going to be receiving severance pay or other benefits.

It's a little bizarre that it's happened so abruptly, but there's been an interim CEO appointed in his place. GameStop co-founder Daniel DeMatteo has stepped in to fill the role, who's also a director and executive chairman.

"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," DeMatteo said in a recent statement released by GameStop.

As a result Mauler's resignation, GameStop's stock tumbled 4 percent, which is an interesting development.

The previous GameStop CEO Paul Raines was the company's CEO for nearly a decade before he resigned in November 2017 for personal and health reasons, and then passed away in March 2018.

Senior Editor

Fueled by horror, rainbow-sugar-pixel-rushes, and video games, Brittany is a Senior Editor at Shacknews who thrives on surrealism and ultraviolence. Follow her on Twitter @MolotovCupcake and check out her portfolio for more. Like a fabulous shooter once said, get psyched!

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