Video game retailer GameStop Corp. (GME) said that its Chief Executive Officer, Paul Raines, has had a reoccurrence of his previously disclosed medical issue and is seeking treatment. In light of these developments, the company's board of directors has appointed Executive Chairman Daniel DeMatteo as the company's interim Chief Executive Officer.
DeMatteo, one of the company's co-founders, will continue to serve as Executive Chairman and director. In the past, he has served as the company's CEO as well as 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. 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," DeMatteo said.
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