Published: Fri, May 11, 2018
Markets | By Otis Pena

GameStop CEO Resigns, Co-Founder Daniel DeMatteo To Assume Interim Duties

GameStop CEO Resigns, Co-Founder Daniel DeMatteo To Assume Interim Duties

In the past, Mr. DeMatteo has served as the company's chief executive officer and in a variety of board and executive roles since November 1996. GameStop (GME) said Mauler, who'd previously been president of its worldwide business, was resigning "for personal reasons" and "not due to any disagreement with the Company regarding its financial reporting, policies or practices or any potential fraud relating thereto". It doesn't go into any more detail than that.

Daniel DeMatteo, the company's executive chairman and a director, was named interim CEO. DeMatteo is one of the company's co-founders and has served as it CEO in the past.

DeMatteo said in a statement on Friday that his "tenure and familiarity" with GameStop makes his transitioning to the interim CEO "a natural step".

President Trump to outline plan aimed at lowering prescription drug prices
Another proposal will go after foreign countries that officials said are free-riding on US innovation in drug development. The result would be lower pharmacy costs for patients - a key Trump campaign promise.

DeMatteo in early February was replaced with Michael Mauler, a 16-year veteran of the company who served as Executive Vice President and President of global.

GME stock reacted badly to the quick switch of GameStop CEOs.

As of this writing, William White did not hold a position in any of the aforementioned securities.

Like this: