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GameStop CEO Michael Mauler Steps Down

Bloomberg is reporting that GameStop CEO Michael Mauler has stepped down from his position after only three months on the job. For the time being, GameStop co-founder Daniel DeMatteo will act as CEO while the company seeks a replacement.

DeMatteo said in a statement:

“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.”

Over the past year, shares of GameStop have dropped from $24 to $12.47 as the company continues to struggle the increase of online sales and free-to-play mobile games.

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