GameStop Corp. (GME) announced Nov. 14 that CEO J. Paul Raines, has had a reoccurrence of his previously disclosed medical issue and is seeking treatment.
The Grapevine-based video game retailer’s board of directors has appointed the company’s executive chairman, Daniel A. DeMatteo, as the company’s interim CEO. DeMatteo, one of the company’s co-founders, will continue to serve as executive chairman and director. In the past, DeMatteo has served as the company’s CEO and 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.”
In 2014, Raines was treated for a brain tumor.