GameStop CEO Resigns After Only Three Months

In a recent announcement by video game retailer GameStop, chief executive officer Michael K. Mauler will be stepping down from the company after only three months in his position. The briefing states that Mauler left for personal reasons, effective immediately.

GameStop did not provide any information as to why Mauler was resigning. He has been with the company for about 16 years, and his sudden resignation is both unexpected and inconvenient to the company, according to Wedbush Securities analyst Michael Pachter.

In the meantime, Daniel A. DeMatteo, executive chairman of the board of directors for GameStop, will serve as an interim CEO. DeMatteo is one of GameStop's cofounders and has served as an interim CEO when J. Paul Raines left the position for health reasons in 2017.

The video game retailer showed positive sales growth in March, particularly in relating to the Nintendo Switch. But little guidance was established for the coming year. Sales will likely flatten or decrease for the remainder of the year. Other than that, expect virtually no change on the consumer level.

With E3 growing ever nearer. It will be interesting to see whether or not this sudden change will impact what they present or announce at the event.