After just three months, GameStop’s CEO, Michael Mauler, has stepped down. Mauler cited “personal reasons” for his departure. Taking his position is Daniel DeMatteo, co-founder of the company. The board has approved of this appointment until a new leader is found. Matteo said in a statement:

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.

This comes as a shock to the company, as they recently had a managerial shake-up this past February. GameStop let go of its Chief Operating Officer, Tony Bartel, and its Executive Vice President, Michael Hogan. Investors for the company have been less than enthusiastic about its future. Shares for GameStop have dropped 4.3% in response to the news

GameStop CEO Steps Down

GameStop has seemingly struggled with adapting to the current market. Digital sales of games and other competitors have been hurtful to the company. With Best Buy’s Gamer’s Club Unlocked and Amazon Prime’s two-day shipping, fewer gamers have been traveling to the retailer. The gaming retailer has ramped up its online presence and began selling more toys and collectibles in response. They have also been seen purchasing AT&T stores in order to shift away from its dependence on video games.