Sections

GameStop CEO steps down for medical reasons

Daniel DeMatteo will take over as interim CEO while J. Paul Raines seeks treatment for his "medical reoccurrence"

Retailer GameStop announced today that its executive chairman, Daniel A. DeMatteo, will be taking on the role of interim CEO as J. Paul Raines has unfortunately had "a reoccurrence of his previously disclosed medical issue and is seeking treatment." According to the Dallas News, Raines was diagnosed with a brain tumor in 2014. It was removed and the prognosis at the time was said to be good.

Raines has been serving as CEO since 2010 and has helped the company to diversify into digital and expand its footprint by acquiring a number of AT&T wireless retail locations. DeMatteo, one of the retailer's co-founders, has served as CEO in the past and he's been in a variety of board and executive roles since November 1996.

"We continue to send our best wishes and strong support to Paul and his family," DeMatteo said. "The Board of Directors has tremendous confidence in GameStop's executives and the management team's ability to effectively run the business with the Board's support."

GamesIndustry.biz extends our best wishes to Raines for a speedy recovery.

If you have jobs news to share or a new hire you want to shout about, please contact us on newhires@gamesindustry.biz

Related stories

E3 2018 has GameStop “looking forward to an incredible Q4”

Leading retailer shares pre-order reactions to the biggest announcements, and how publishers will benefit from a wider spread of releases

By James Batchelor

GameStop in buyout talks, reports Reuters

UPDATE: Retailer confirms 'exploratory discussions' are underway

By Christopher Dring

Latest comments

Sign in to contribute

Need an account? Register now.