Michael K. Mauler was officially named as the new Chief Executive Officer of GameStop on February 6th. Now, just three months later, he's stepping down. GameStop has just issued a press release naming company co-founder Daniel A. DeMatteo as its interim CEO until a more permanent replacement can be appointed.
Mauler has served GameStop for over 16 years. Prior to his appointment to CEO, he served as Executive Vice President and President of International, putting him him in charge of nearly 2,000 retail stores operating under the GameStop, EB Games, Micromania and Zing Pop Culture brands. GameStop only cites "personal reasons" for Mauler's departure, offering no specifics.
News of the unexpected shake-up isn't doing GameStop's stock any favors. At the time of writing, the game retailer's shares have fallen by around 3%.