GameStop CEO Paul Raines has stepped down, at least temporarily, from his role as the video game retailer’s top boss, due to a “reoccurrence” of his health issues. The retailer announced this today in a press release, saying Raines is seeking treatment for a previously disclosed medical issue. In August 2014, GameStop confirmed that Raines had a tumor removed from his brain. At the time, doctors said he was expected to make a full recovery.
GameStop co-founder Daniel DeMatteo will take over as interim CEO. DeMatteo served as GameStop’s CEO and other high-level executive positions dating back to the ’90s and also sits on GameStop’s board of directors.
“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.”
Regarding Raines’ brain tumor, GameStop said in 2014 that it was discovered “very early,” and that doctors believed he had a “very good” chance to make a full and complete recovery. Raines underwent preventative chemotherapy after the surgery.
This announcement comes on the same day that GameStop will report earnings for its latest quarter. We’ll report back with more details in the coming hours.
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