VGATW Latest News – GameStop CEO Michael Mauler steps down for personal reasons

VGATW Latest News – GameStop CEO Michael Mauler steps down for personal reasons


Hey gamers, Gian here! The CEO of Gamestop Michael Mauler, who took
the position in February after being a longtime executive of the company, was announced today
that he will step down the position for his own “personal reasons” after three months
of being CEO. Replacing Mauler temporarily until a new CEO
is found, is Daniel DeMatteo who is the co-founder of GameStop. DeMatteo had stated the following: “Given
my tenure and familiarity with the company and our associates, it’s a natural step for
me to assume this role and guide the business at this time while the board searches for
a permanent CEO. I’m happy to have Rob Lloyd, our CFO, and
his 22 years of experience with GameStop alongside me as we work towards executing against our
2018 objectives. We continue to believe in GameStop and the
many passionate associates that drive our business and are encouraged by the opportunities
ahead of us.” DeMatteo previously served as the interim
CEO when J. Paul Raines was forced to step down due to health issues last year. Raines passed away earlier this year, shortly
after Mauler became CEO. GameStop’s statement makes little mention
of Mauler or his work over the past few months, merely saying he was leaving for personal
reasons. Well, what can I say? If Mauler has his reasons for stepping down
then let him do so if he wants to. Now, what can I say about GameStop. Well, the company had it’s good moments as
well as it’s bad ones. Some stores I have visited closed down to
move to other areas. I gotta say that GameStop is a sinking ship. We’ve seen Blockbuster go under after Netflix
became a huge hit, this year Toys R’Us died and it won’t be long before GameStop follows
suit people. However, the company has been suffering and
struggling as of late with its forecast for the coming year causing some concern among
investors. Its stock stands as $12.55 as of this writing,
roughly half of what it was a year ago, and a fraction of its previous highs in 2007 and
2013. As a brick-and-mortar retail that has traditionally
specialized in physical games, it faces an uphill battle, with recent years seeing the
company attempting to diversify into areas like mobile phone and collectible sales, also
selling t-shirts, as well as seeking to inject itself into the increasingly digital games
industry. Now, I gotta say some people would prefer
buying their games and consoles online rather than going on GameStop. Of course, the company has made a lot of mistakes
by going public and it’s most likely a matter of time before the company can sink. What do you think about this? Just comment, rate, share and subscribe. This is Gian, host of VGATW! Have a good one!


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