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.