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GameStop names new CEO

Daniel DeMatteo, former COO, to replace longstanding Richard Fontaine

GameStop has announced that its CEO Richard Fontaine will be relinquishing his role to Daniel DeMatteo, the company's vice chairman and COO.

DeMatteo will take up the role of CEO which Fontaine has held since the company's inception in 1996. Following DeMatteo's promotion, Paul Rains, the former executive vice president of US stores for Home Depot, will become GameStop's new COO in September.

"Dan and I have worked together for over 12 years, and with an outstanding team of leaders, we have built GameStop into one of the fastest-growing and most successful specialty retailers worldwide," said Fontaine.

"Dan's move into the CEO role will assure the continuity of performance that has been a GameStop hallmark. His leadership, drive and insight into the videogame business and its huge upside potential make him the obvious choice as CEO."

DeMatteo added: "These moves are a natural evolution of our growth and potential, and I am excited about this opportunity."

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